China Resources Power Dedicates Wind Power Expansion to Thermal Power Industry

According to Hong Kong media reports, the operational prospects of the thermal power industry are bleak, forcing the power group to increase the development of new energy business. According to Wang Xiaobin, chief financial officer of China Resources Power, China Resources Power plans to add 800 megawatts of wind power each year, and strive to increase its installed capacity to 150 GW by 2020.

She also said that as of the end of 2010, the Group had 15 wind farms with an installed capacity of 642 MW. In sum, clean energy will increase to 16% of total installed capacity by 2020. China Resources Power currently has 13 wind farms under construction, with a total installed capacity of approximately 631 MW. As for returns, Wang Xiaobin said that China Resources Power invests in wind power from 4.8 billion to 6.5 billion yuan each year, and the rate of return for each project is 12%.