Image: China Three Gorges
Three gorges has announced plans to secure approximately CNY79.1 billion ($10.89 billion) in external financing by 2024. This includes approximately CNY14 billion in equity financing and approximately CNY65.1 billion in debt financing. The funds will primarily support investments in onshore wind energy, solar farms, offshore wind energy, the construction of energy bases, investments in industrial chains, research and development expenditure and technological upgrades. By the end of 2023, Three Gorges Energy’s total installed renewable energy capacity exceeded 40 GW, while its total assets exceeded CNY 310 billion. In the first quarter of 2024, the company achieved operating income of CNY7.9 billion, a year-on-year increase of 15.3%.
Autowell expects operating income in the first half of 2024 to be between CNY 3,998.73 million and CNY 4,450.81 million. This reflects a year-on-year increase from 58.84% to 76.80%. Net profit attributable to the company’s shareholders is expected to be between CNY 692.49 million and CNY 772.42 million, registering a growth of 32.53% to 47.82% compared to the same period last year.
China Guodian power investment has started construction of a 1.5 GW anti-desertification photovoltaic project in Alar, Xinjiang region. The project requires an investment of CNY 6.1 billion and covers 28 square kilometers. The goal is to complete construction and connection to the electricity grid within one year, generating 2.6 TWh of green energy per year. Once operational, it will replace 735,000 tons of standard coal annually and reduce sulfur dioxide emissions by 202 tons, carbon dioxide emissions by 2.01 million tons and nitrogen oxide emissions by 325 tons.
Jinko power said it has signed a framework cooperation agreement with Xinhua Hydro Power in Hunan province. The agreement outlines plans to collaborate on residential distributed PV projects totaling no less than 6 GW from 2024 to 2026. This includes 1 GW in 2024, 2 GW in 2025 and 3 GW in 2026.
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