BEIJING - SDIC Power Holdings Co., Ltd., a major power generation company in China, has reported a mixed set of operating results for the fourth quarter of 2024. According to the company's preliminary statistics, there was a decrease in both gross and net electricity generated compared to the same period last year. Specifically, SDIC Power's domestic holding enterprises produced 38.576 terawatt-hours (TWh) of gross electricity and 37.609 TWh of net electricity, marking a decline of 5.39% and 5.36% respectively.
Despite the quarterly downturn, the annual figures for January to December 2024 show an increase in electricity generation. The company's year-on-year gross electricity generation rose by 6.23%, and net generation increased by 6.39%. These gains were driven largely by a significant rise in solar power generation, which surged by over 60% compared to the previous year, as well as a solid increase of over 10% in hydropower generation.
The average on-grid tariff for SDIC Power's domestic enterprises in Q4 was 0.360 renminbi (RMB) per kilowatt-hour (kWh), a decrease of 2.96% from the previous year. Over the entire year, the average tariff fell by 4.01% to 0.359 RMB/kWh. The company attributed the annual drop in tariffs to various factors, including fluctuations in spot market prices and the commissioning of parity grid projects for solar power.
SDIC Power's international operations also saw activity, with the Afton Wind Farm Limited in the UK generating 132 million kWh and a waste-to-energy project in Bangkok producing 71 million kWh throughout 2024.
The company's board of directors released these figures in a statement on January 15, 2025. The information is based on a press release statement and was disseminated by RNS, the news service of the London Stock Exchange (LON:LSEG).
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