CTGNE Maintains Strong Momentum for Rapid and High-quality Growth in the First Four Months of 2018

From January to April, key operation indicators of China Three Gorges New Energy Co., Ltd. (CTGNE), such as power generation and profitability, grow significantly with a 28% YoY increase in power generation, a 18% YoY increase in operational revenue, a 11% YoY decrease in asset-liability ratio, a 48% YoY increase in gross profit and a 64% YoY increase in economy value added (EVA). The performance of the company is off to a good start in the year with initial results. Adhering to the strategy of “developing wind and solar power” and “becoming a leader in offshore wind power”, CTGNE earnestly implements the policies of the CTG with strong dedication and commitment to improve the company’s production and operational management.
   
CTGNE will take full advantage of the best development period for offshore wind power projects to accelerate the consolidated scale development efforts from Guangdong to Jiangsu and Zhejiang and connect the Bohai rim. The current scale of offshore wind power capacity approved and under construction exceeds 1.2 million kilowatts. CTGNE gives equal emphasis to proprietary development and M&A,  enhances the analysis and research on policies and market situation, and strengthens efforts for resources. Specially, it has participated in bidding for 10 “front-runner” base projects for photovoltaic application in Qinghai, Shaanxi, etc., and has obtained the development right for 600,000 kilowatts, which accounts for 12% of all the “front-runner” projects, thanks to its comprehensive capabilities and detailed investment return calculations, making the company No.4 in the market in terms of market share. CTGNE actively adapts to market changes and steadily accelerates the pace of M&A. Up to now, the capacity for projects under construction or to be constructed exceeds 2.5 million kilowatts, and the capacity for projects approved for M&A or under negotiation has reached more than 3 million kilowatts. It is estimated that more than 500,000 kilowatts of newly installed capacity can be achieved in the first half of 2018, and 10 million kilowatts throughout the year.