, Hong Kong
Towngas Smart Energy is advancing a photovoltaic EaaS project at an automobile production plant in Shenzhen. The net profit of the Company’s renewable energy business jumped five-fold during the year. Courtesy: Towngas Smart Energy

Towngas Smart Energy’s renewable unit boosts 2024 profit

Core operating income was up over 30%.

Towngas subsidiary Towngas Smart Energy Company Limited has reported growth in 2024, thanks to its renewable energy business whose net profit jumped five-fold to $479m.

In a statement, the company said this, along with the steady growth of its gas unit, led to a 34.5% increase in core operating profit to reach $1.601b. After deducting non-operating gains and losses, the profit attributable to shareholders of the company amounted to$1.606b.

As of 31 December 2024, Towngas Smart Energy’s cumulative grid-connected photovoltaic capacity reached 2.3 gigawatts, with its annual power generation doubling year-on-year to 1.83 billion kilowatt-hours (kWh). Annual power trading volume, meanwhile, exceeded 8.4 billion kWh.

For the city-gas business, the total gas sales volume recorded a 5% increase to 17,201 million cubic metres during the year.

The board is proposing a final dividend of $0.16 per share and a one-off special dividend of $0.03 per share, totalling $0.19 per share, up 18.8% from the previous year.

Follow the link for more news on

Join Asian Power community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!