华能水电(600025.SH):前三季度完成发电量962.66亿千瓦时,同比增加11.90%

Core Viewpoint - Huaneng Hydropower (600025.SH) reported a significant increase in electricity generation and grid-connected electricity volume for the first three quarters of 2025, driven by enhanced renewable energy capacity and favorable hydrological conditions [1] Group 1: Electricity Generation - The company achieved a total electricity generation of 96.266 billion kilowatt-hours, representing a year-on-year increase of 11.90% [1] - The grid-connected electricity volume reached 95.490 billion kilowatt-hours, marking a year-on-year increase of 12.02% [1] Group 2: Contributing Factors - The increase in electricity generation is primarily attributed to the substantial growth in installed renewable energy capacity, with the full capacity of TB Hydropower Station and Hard Beam Package Hydropower Station coming online [1] - The hydrological conditions in the Lancang River Basin were favorable, with a 9% increase in water inflow at the Nuozhadu section, allowing the company to maximize electricity generation during the main flood season [1] - There was also an increase in electricity transmission from the west to the east, contributing to the overall rise in electricity generation [1]