China Longyuan Power Shifts Focus to Renewable Energy

China Longyuan Power Group (HK:0916) has released an update.

China Longyuan Power Group reported a 6.37% decline in revenue for the first nine months of 2024, with significant drops in wind and coal power segments, while photovoltaic segment revenue soared by 65.51%. Despite these fluctuations, the company’s overall power generation increased by 2.42%, driven by a substantial rise in photovoltaic power output. The group’s installed capacity also grew, notably in the photovoltaic sector, underscoring its strategic shift towards renewable energy sources.

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