on may 27, china longyuan power group co. ltd. held its anniversary meeting in hongkong which is another important meeting after the first session of 2010 meeting of the board of directors was held on march 30. at the meeting, 11 proposals including the 2009 working report of the board of directors had been passed. in the meeting, the shareholders were informed of the company’s achievements of last year.
in 2009, the inspiring achievements of the company are:：
1. rapid increase of the wind power installation and stored capacity. 41 projects of wind power had been put into production with new holding installation capacity of 2 million kw. by the end of 2009, the amount of holding installed capacity of wind power had reached 4.5 million kw and maintained the rank of no. 1 in asia and no. 5 in the world separately. the total stored capacity amounted to 45 million kw with new stored capacity of 16 million kw.
2. steady increase of power production. the total power production of the year was 17.184 billion kwh among which the production of wind power was 6.211 billion kwh with an increase of 69.9%. the average utilization factor of the wind turbines was 97.69% and the average utilization hour was 2268.
3. company’ profits increase simultaneously with its scale. china longyuan power increased its installation scale greatly by making best use of its own advantages to enlarge its scale. meanwhile, it strengthened the evaluation and optimization of the newly developed projects. it fortified the overall process management of the project construction, optimized its management of production and operation, consolidated the management of tariff and fee and actively develop the cdm so that the great increase of the company’s profits was guaranteed. the net profit attributable to the parent company was ￥894 million with an increase of 165.3%.
4. tariff rate remained stable. the average feed-in tariff of the wind power of the year was 0.567 yuan/kwh with an increase of 0.005 yuan/kwh. the average feed-in tariff of thermal power of the year was 0.421yuan/kwh with an increase of 0.018 yuan /kwh.
5. breakthrough of the construction of offshore wind farms. making best use of its advantages, china longyuan power actively started the preliminary work of the development of offshore wind power. the company sped up the exploitation of offshore wind power and the company was the first to have set up testing turbines at the intertidal zone of rudong, jiangsu and they had been put into production, which was a breakthrough of the global wind power production at the intertidal zone.
6. outstanding achievements in the development of cdm projects. by the end of 2009, the company had developed 116 cdm projects, among which 79 projects had been approved by ndrc and 25 projects had been registered successfully. among these projects, there were 24 wind power projects, 1 biomass project. the total income of the cdm projects of the year was ￥197 million with an increase of 82%.
7. breakthrough of international cooperation. the company signed south africa wind power joint investment agreement and the preliminary work had been started. thus, this was the first step of the company in its entry of the international wind power market.
at present, the chinese government aims to continuously promote the policy of energy saving and emission reduction to actively encourage the development of new energy resources, to speed up the adjustment of economic structure and the transformation of development pattern and to build up a society which is resources saving and environment-friendly. as the steady recovery of the global economy and the increasing focus of wind power development, our country will strengthen the policy of supporting the development of new energy resources. in 2009, the state promulgated ndrc notice for consummating wind power grid tariff policy and the amendments for renewable energy law and so on. therefore, it will greatly contribute to the healthy and rapid development of renewable energy industry. on april 22, premier wen jiabao re-emphasized in the first plenary session of the national energy board that the state would speed up the exploitation of new energy resources and renewable energy resources and make great efforts to realize the aim to increase the share of non-fossil fuels in primary energy consumption to around 15% by 2020. therefore it set a favorable environment for longyuan’s increasing development. in addition, china longyuan power’s successful raising of money through its ipo reduced its asset-liability ratio and lessened the capital pressure resulted from its leap-forward development so that it could guarantee its increasing development in the future. in the background of the recovery of the domestic economy, the increase of gdp will be over 8%. as a result, the demand of electricity will increase too and the acceptance capacity will be improved. we might say that the prospect of longyuan’s power development is really promising in the present circumstances.
in 2010, the company will make its best endeavors to fulfill the following performance targets:
1. to enhance operation management by boosting wind power generation to over 10,000 gwh;
2. to enhance construction management by introducing an additional installed capacity of 2,000 mw in wind power production, boosting the holding installed capacity of wind power to 6,500 mw by the end of 2010;
3. to enhance market exploration by approving wind power projects of over 2,000 mw;
4. to enhance corporate profitability by achieving a relatively high level increase in profit;
5. to enhance capital market operation by maintaining a good corporate image in the market and steady growth in its results;
6. to enhance technology innovation by perfecting the supporting system of technical services, so as to further build up the “longyuan wind power brand”.