Home Facts company

China Longyuan Power Issuing its 2009 Annual Report

China Longyuan Power Issuing its 2009 Annual Report

Write: Snowden [2011-05-20]

On March 30, 2010, the Board of Directors of China Longyuan Power Group Corporation Limited (Abbreviate as Longyuan Corporation hereinafter) held the first session of the first Board of Directors in 2010. Mr. Zhu Yongpeng, President of China Guodian Corporation and Chairman of Longyuan Corporation, presided over the session, and Mr. Xie Changjun, General Manager of Longyuan Corporation, delivered the 2009 General Manager s Work Report. On the session, a multitude of proposals including the 2009 Annual Report of China Longyuan Power Group Corporation Limited was examined and passed; also, the Corporation s 2009 Annual Report was formally issued.

In 2009, Longyuan Corporation made satisfactory achievements, which are mainly shown in the following aspects: Firstly, both the wind power installed capacity and the wind power reserve capacity maintained a rapid growth. The reserve capacity of the Corporation s newly increased wind power projects in the whole year amounts to 16 million kW; and by the end of 2009, the reserve capacity had amounted to 45 million kW. With 41 wind power projects put into production, the newly increased wind power installed capacity in the hold amounted to 2 million kW. By the end of 2009, the Corporation s total installed capacity had added up to 6.75 million kW, including a total wind power installed capacity of 4.84 million kW; the wind power installed capacity in the hold amounted to 4.5 million kW and the wind power installed capacity as the equity amounted to 3.76 million kW. Secondly, the power production maintained a steady growth. During the whole year, the Corporation fulfilled a generated electrical energy of 17.184 billion kWh, including 6.211 billion kWh as the generated electrical energy from wind power with a year-on-year growth margin of 69.9%. The average availability coefficient of wind turbines is 97.69%; and the amount of average utilization hours is 2,268 hours, 86 hours less year on year due to limits on certain projects power delivery. Thirdly, profits increased together as the scale expanded. The Corporation made use of its own advantages to enlarge the scale, thus having realized a growth by a large margin in terms of installed capacity scale; in the meantime, a growth by a large margin of the Corporation s profits was guaranteed by enhancing the evaluation and optimization of newly developed projects, strengthening the whole-process management over engineering construction projects, optimizing production and operation management, enhancing the management over power prices and electricity charges, and actively develop CDM (Clean Development Mechanism) projects. For the whole year, the amount of net profits attributed to shareholders that the Corporation realized amounted to RMB894 million yuan with a year-on-year growth rate of 165.3%. Fourthly, the level of power prices maintained steady. The annual average price of on-grid electricity power was RMB0.567 yuan per kWh with a year-on-year increase of RMB0.005 yuan per kWh while the power price of on-grid thermal electricity power was RMB0.421 yuan per kWh with a year-on-year increase of RMB0.018 yuan per kWh. Fifthly, breakthroughs were made on the construction of offshore wind power. The Corporation made use of its own advantages to actively carry out the preparatory work for the development of offshore wind power while making efforts to boost the construction of tidal zone wind far projects, took the lead to build up the first batch of trial wind turbines on the offshore tidal zone in Rudong, Jiangsu Province, which had started to generate power, thus having realized a breakthrough as it is the first tidal zone wind power project in the world. Sixthly, achievements are remarkable in the development of CDM projects. By the end of 2009, the Corporation had developed 116 CDM projects among which 79 projects had been ratified by the National Development and Reform Commission; the accumulative number of projects successfully registered amounted to 25, including 24 wind power projects and one biomass power generation project. In 2009, revenues that the Corporation realized from CDM projects amounted to RMB197 million yuan, 82% up year on year.

Due to the global warming, it is clearly realized in various countries in the world that the warming is posing significant threats to the humankind. Measures are being actively taken in various countries to cut down the discharge of greenhouse gases. Adjustments to the energy structure and transformation of the energy structure will be the development direction for the energy industry in the future, and there appear unprecedent historic opportunities for the development of renewable energies.

The Chinese government has also made commitment on the energy conservation and discharge reduction objectives in 2020. It is expected that the planning for the development of new energy industries will be launched soon, even more supports will be provided in terms of policies on new energy. That is an advantageous environment for the wind power development of Longyuan Corporation.

In 2010, Longyuan Corporation will make efforts to realize the following objectives: improve the capability for operation management and realize a wind power generation output of over 10,000 million kWh; improve the capability for engineering construction management, realize a newly increased wind power installed capacity of 2 million kW and realize a wind power installed capacity in the hold of 6.

5 million kW by the end of 2010; improve the capability to explore the market, and get the total installed capacity of ratified wind power projects added up to over 2 million kW; improve the enterprises profit-making capacity and realize a growth by a large margin of profits before tax; improve the capability to conduct operations in the capital market, maintain the Corporation s image in the market, and maintain the steadiness and growth of achievements; improve the capability to conduct technical innovations, complete and consummate the technical service supporting system and further build up the brand of Longyuan Wind Power .


China Longyuan Power Issuing its 2009 Annual Report
President Zhu Yongfan presided over the meeting
China Longyuan Power Issuing its 2009 Annual Report
General Manager Xie Changjun delivered the General Manager Work Report for 2009
China Longyuan Power Issuing its 2009 Annual Report
The Board of Directors conscientiously reviewed the various proposals
China Longyuan Power Issuing its 2009 Annual Report
The Board of Directors passed these proposals by a show of hands