Despite contending with a lower growth rate for domestic electricity demand, the Beijing-based company posted net profits for the six-month period at $US182 million, noting significant contribution from its non-coal energy projects.
Renewable energy accounted for 16% of Datang’s power generation capacity during the period.
“The profitability of the thermal power operations was still under pressure even though the price of thermal coal began to fall from May this year,” Datang president and vice chairman Cao Jingshan said.
“Although our power generation business was hit by the deceleration of the economy, it still managed to maintain a steady pace and a great growth in profitability.”
Datang and its subsidiaries installed capacity of 39 megawatts over the period, 12.4% of which was coal-fired power. Hydro and wind power accounted for 3.3% of new capacity.
Reporting and intensified interest in coal technology research and development, the company said its coal-fired units achieved a total desuphurization rate of 99%. Datang coal plant emissions decreased in smoke ash and waste water by 16% and 27% respectively.
The group’s coal chemical business ventures such as the Duolun coal chemical project and the Keqi and Fuxin coal-based natural gas projects recorded progress over the half-year with Duolun having begun trial production last March.
Datang said it continued to press forward with its coal production programs as well, citing an increase in the capacity of its Shengli open pit to 10 million tonnes of coal. The second phase of the Shengli project is expected to reach a capacity of 20Mt.
Datang Power is one of the largest independent power producers in China and the first Chinese power company listed in Hong Kong, London and Shanghai simultaneously.
As of the end of the first six months of 2012, the company claims a total operational power capacity of 39Mw.