Energy giant SPIC reports revenue growth in 2017

Updated 2018-02-02 14:41:00 Xinhua

China's state energy giant State Power Investment Corporation (SPIC) posted revenue growth last year.

SPIC raked in 202.9 billion yuan (32.31 billion U.S. dollars) of revenue in 2017, surpassing the 200-billion-yuan mark for the first time, according to a statement on its website. It generated 422.6 billion kilowatts hours of electricity last year.

The company is one of China's top five power generators, and its business covers thermal power and clean energy. It has been included on the Fortune 500 list for six consecutive years.

As China has channeled more energy into greening the power supply, SPIC has also sped up its green drive.

In 2017, the company reduced its coal consumption by 1.5 gram per kilowatt hour, shut down 510,000 kilowatts of coal-fired power capacity, and cut excess coal capacity by over 1.5 million tonnes.

SPIC's total installed power capacity has reached 126 million kilowatts, with more than 45 percent coming from new energy sources. Its total installed photovoltaic power capacity was more than 10 million kilowatts, the world's largest.

Last year, the company finalized the acquisition of Pacific Hydro, an Australian renewable energy company, and signed a 30-year concession agreement with Brazilian hydro power generator Sao Simao HPP.

Currently, SPIC's business covers 41 countries and regions, with overseas assets of 70 billion yuan.

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58August 20 2018 01:34:57

Nicole Kidman Recalls Oscar Glory: Loneliest Time

Attending Shanghai International Film Festival, Nicole Kidman talks about her role in "Grace of Monaco".

Labor Day Travel Peak Starts
Also in the News2014/05/01 12:16August 20 2018 01:34:57

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18August 20 2018 01:34:57

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'

Hollywood star Johnny Depp's speech in the upcoming new film "Transcendence" has been disclosed on Friday, April 11th.

News:
China World Business Sports Showbiz Audio
Video:
C4 My Chinese Life The Sound Stage China Revealed Showbiz Video Travel Video
Photos:
China World Fun Travel Entertainment Sports
Travel:
Beijing Shanghai Guangzhou
Lifestyle:
Live Music Opera & Classical Movies Traditional Shows Exhibitions
Learn Chinese:
Chinese Studio Living Chinese Everyday Chinese Just For Fun Chinese Culture Buzzwords