RNS Number : 6096K
SDIC Power Holdings Co., LTD
15 April 2024
 

SDIC Power Holdings Co., Ltd.  

(GDR under the symbol: "SDIC")

 First Quarter 2024 Operating Results

 

 

This announcement contains the English translation of the Chinese version of "SDIC Power Holdings Co., Ltd. First Quarter 2024 Operating Results" as published on the website of the Shanghai Stock Exchange, and is provided for your reference only. In case of discrepancy between the Chinese version and the English version, the Chinese version shall prevail.

 

According to the preliminary statistics of SDIC Power Holdings Co., Ltd. ("the company"), the company's domestic holding enterprises have completed a total of 39.542 TWh of gross electricity generated and 38.447 TWh of net electricity generated in Q1 2024, representing an increase of 3.27% and 3.01% respectively compared with the same period last year.

 

In Q1 2024, the average on-grid tariff of the company's domestic holding enterprises is 0.387 RMB / kWh, representing an increase of 3.75% compared with the same period last year.

 

The operating results of the company's domestic holding enterprises in 2024 Q1 is as followed:

 

Items

Gross Electricity Generated

(TWh)

 

Net Electricity Generated

(TWh)

 

Average On-grid Tariff

(RMB / kWh, including tax)

 

Current period

Same period last year

Change (YOY%)

Current period

Same period last year

Change (YOY%)

Current period

Same period last year

Change (YOY%)

Hydropower

21.434

23.376

-8.31%

21.304

23.245

-8.35%

0.318

0.305

4.26%

Thermal

Power

15.161

12.881

17.70%

14.254

12.089

17.91%

0.463

0.472

-1.91%

Wind Power

1.782

1.537

15.95%

1.742

1.499

16.17%

0.492

0.487

1.03%

Solar Power

1.164

0.495

135.15%

1.147

0.489

134.71%

0.551

0.825

-33.21%

Total

39.542

38.289

3.27%

38.447

37.322

3.01%

0.387

0.373

3.75%

 

Explanation of year-on-year changes in gross electricity generated of domestic power plants in 2024 Q1:

 

1.The main reasons for the overall year-on-year decrease of hydropower generation are as follows:

The inflow of the Yalong River and Dachaoshan hydropower station basin is relatively dry.

 

 

2. The main reasons for the overall year-on-year increase of thermal power generation are firstly due to the increased social electricity consumption in some regions and secondly due to the commissioning of new thermal power units.

 

3. The main reasons for the overall year-on-year increase of wind power generation are as follows:

Firstly, the company put into operation several wind power projects. Secondly, wind resources in some areas were better than the same period last year.

 

4. The main reason for the overall year-on-year increase of solar power generation is the successive commissioning of multiple projects.

 

Explanation of year-on-year changes in average on-grid tariff of domestic power plants in 2024 Q1:

 

Due to the impacts of settlement prices and billing cycles, the grid electricity prices of various power plants have fluctuated. Among them:

 

The electricity price for thermal power follows a "quantity price + capacity price" two-part tariff system, and the price has decreased compared to the same period last year.

The decrease in solar power electricity prices compared to the same period is mainly because the newly commissioned units by the company are projects with grid parity.

The main reason for the increase in the electricity price of Yalong River hydropower is due to changes in the electricity mix.

Moreover, Yangfanggou has not yet defined the electricity price mechanism, and Lianghekou is temporarily settled according to the transition period electricity price.

 

Operating results of overseas power plants in Q1 2024:

 

The 50,000 kW onshore wind power project Afton Wind Farm Limited has completed a total power generation of 39 million kWh from January to March in 2024; The 9,800 kW waste-to-energy power project in Bangkok has completed a total power generation of 20 million kWh from January to March in 2024.

 

The Board of Directors of SDIC Power Holdings Co., Ltd.

 

April 15, 2024

 

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