粤电力A可再生能源发电量增24% 投74.84亿建两机组投入商业运营

Core Viewpoint - The company, Guangdong Electric Power A (粤电力A), is experiencing a significant increase in renewable energy generation and has entered a "production explosion period" with multiple projects coming online, enhancing its market competitiveness and operational capacity [1][2][3]. Group 1: Project Developments - The Maoming Boge Power Plant's 4th unit, part of a 2×1000MW project, has officially commenced commercial operations, completing the construction of two supercritical coal-fired units [1][2]. - The total investment for the Maoming Boge Power Plant project is 7.484 billion yuan, with an expected annual generation capacity of 8.6 billion kilowatt-hours [2]. - The company has also recently completed the expansion of the Huilai Power Plant, with its 5th unit successfully entering commercial operation [3]. Group 2: Renewable Energy Growth - In 2025, the company's renewable energy generation (including wind, hydro, solar, and biomass) reached 10.946 billion kilowatt-hours, a year-on-year increase of approximately 24% from 8.823 billion kilowatt-hours [7]. - The company reported a total generation of 1277.82 billion kilowatt-hours in 2025, reflecting a 1.54% increase year-on-year [6][7]. Group 3: Capacity and Performance Metrics - As of the end of 2025, the company has a controllable installed capacity of 46.6831 million kilowatts, with coal power accounting for 52.34% of this capacity [7]. - The company plans to add 3 million kilowatts of coal power and 993.6 thousand kilowatts of solar power through self-construction and acquisitions in 2025 [8]. Group 4: Financial Performance - The company anticipates a net profit attributable to shareholders of between 577 million and 757 million yuan for 2025, representing a year-on-year decline of 21.45% to 40.12% [8]. - The decline in profit is attributed to intensified market competition and a significant drop in on-grid electricity prices, despite a decrease in fuel costs [8].