Recently, the 2023 performance reports of the six major power generation groups were released. In 2023, the net profit of the six power generation groups will increase year-on-year, with Huaneng Group, Huadian Group, State Power Investment Group, and Datang Group increasing by more than 50%; In terms of revenue, Power Investment, Huadian, Three Gorges, and Datang all increased their income, while National Energy Group and Huaneng declined slightly; In terms of total assets, the National Energy Group continued to lead by more than 2 trillion yuan, and the power investment, Huaneng, Three Gorges and Huadian all exceeded one trillion yuan.
According to the preliminary statistics of the public data of various power generation groups, the installed capacity of new energy of the six major power generation groups in 2023 will exceed 10 million kilowatts. Among them, the National Energy Group and the State Power Investment Corporation have the largest new scale, both exceeding 25 million kilowatts, and Datang Group has the smallest new scale, also reaching 11.55 million kilowatts. The total installed capacity of the six major power generation groups exceeded 119.17 million kilowatts, accounting for more than 40% of the new installed capacity of new energy in China.
01
2023 results
In terms of revenue, in 2023, the national energy group will lead with 793.2 billion yuan, followed by Huaneng with 409.8 billion yuan and power investment with 385.7 billion yuan; In terms of year-on-year growth, Power Investment increased by 6.97%, Huadian increased by 6.32%, Three Gorges increased by 4.12%, and Datang also increased by 1.66%; National Energy Group and Huaneng Group saw a slight decline.
In terms of net profit, the six major power generation groups all increased to varying degrees year-on-year, among which Datang Group increased by 98.28%, followed by Huaneng Group with a year-on-year increase of 93.00%, Huadian Group with an increase of 83.95%, and Power Investment Group with a year-on-year increase of 72.88%. Overall, the National Energy Group continues to lead the rest of the power generation groups, with a net profit of 88.491 billion yuan in 2023, followed by the Three Gorges Group with 43.849 billion yuan, followed by the Power Investment Group and Huaneng Group.
In terms of total assets, in 2023, the total assets of China Energy Group will exceed 2 trillion yuan, and power investment, Huaneng, Three Gorges, and Huadian will all exceed one trillion yuan; In terms of year-on-year growth, the total assets of the six power generation groups all increased, of which Power Investment Group and Huaneng Group increased by more than 10%.
In terms of debt ratio, the debt ratio of Power Investment Group, Huadian Group, Huaneng Group and Datang Group decreased slightly, and the debt ratio of increased slightly; The Three Gorges Corporation has the largest increase in its debt ratio, but it is still the lowest among the six major power generation groups.
In terms of R&D investment, in 2023, the largest R&D investment of China Energy Group will reach 8.389 billion yuan, followed by Power Investment Group with 4.851 billion yuan, and the R&D investment of Huaneng Group and Three Gorges Group will both exceed 2 billion yuan.
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New energy transcript
In 2023, the new installed capacity of wind power, photovoltaic power will be 216.88 million kilowatts, and new energy will be 292.78 million kilowatts, a year-on-year increase of 138.0%.
According to the preliminary statistics of the public data of various power generation groups, the installed capacity of new energy of the six major power generation groups in 2023 will exceed 10 million kilowatts. Among them, the National Energy Group and the State Power Investment Corporation have the largest new scale, both exceeding 25 million kilowatts, and Datang Group has the smallest new scale, also reaching 11.55 million kilowatts. The total installed capacity of the six major power generation groups exceeded 119.17 million kilowatts, accounting for more than 40% of the new installed capacity of new energy in China.
National Energy Group
In 2023, China Energy Group will start construction of 33.08 million kilowatts of new energy and put into operation 26.16 million kilowatts; The installed capacity of wind power has exceeded 60 million kilowatts, maintaining the first place in the world, and the proportion of installed renewable energy has reached 35.5%.
China Energy Group focuses on the development of large-scale wind power and photovoltaic bases in Shagehuang and the construction of offshore wind power, driving the rapid growth of wind and solar installed capacity. In 2023, three million-kilowatt offshore wind power bases will be built in Jiangsu, Shandong, and Zhejiang, and by the end of 2023, the installed capacity of offshore wind power will exceed 5 million kilowatts. It has taken the lead in the development of large-scale wind power and photovoltaic base projects in deserts, Gobi and deserts such as 13 million kilowatts in Tengger in Ningxia and 11 million kilowatts in Badain Jilin in Gansu, and a number of million-kilowatt new energy bases in Ningdong and Qinghai Gonghe have been completed and put into operation.
At the same time, we will continue to make efforts to develop new energy storage projects on the power generation side, such as thermal power + electrochemistry, flywheel energy storage frequency modulation, new energy + grid-based energy storage frequency modulation and phase modulation, thermal power + molten salt heat storage peak regulation, etc., and the appraisal of project achievements such as "flywheel energy storage + thermal power combined frequency modulation" of Ningxia Lingwu Power Plant has reached the international leading level.
In January this year, China Energy Group announced that it would adjust its corporate development strategy, taking "building a world-class clean and low-carbon energy technology leader and a first-class state-owned capital investment company in an all-round way" as its strategic development goal.
In March this year, the first batch of 80 key projects with a total investment of 400 billion yuan in 2024 (four provinces and regions) will be started, including the Bozhou "two joint-operation" comprehensive energy demonstration project, Qinghai high-rate molten salt energy storage heating and power generation demonstration project, Cangzhou "Green Port Hydrogen City" and other clean energy projects.
国家电投
In 2023, will add more than 25 million kilowatts of new energy capacity; At the end of 2023, the installed capacity of photovoltaic management will exceed 76.83 million kilowatts, and the installed capacity of Photovoltaic Holdings at the end of 2022 will be 53.3036 million kilowatts, that is, the new installed capacity of photovoltaic in 2023 will exceed 23.5 million kilowatts.
In 2023, will account for about 77.7% of the annual power investment, and the annual operating income of strategic emerging industries will account for about 29% of's total revenue.
In April this year, the construction of the first batch of more than 200 projects with an installed capacity of more than 80 million kilowatts and a total investment of more than 500 billion yuan was fully launched, and the number of clean energy projects accounted for more than 90%. The first batch of project list includes 40 key projects such as nuclear power, Shagehuang base, offshore wind power, efficient and clean coal power, hydropower, centralized onshore wind power photovoltaic, green power conversion, and new energy storage, among which Jiangsu Binhai independent new energy storage project plans to build a 200MW/400MWh non-walk-in liquid-cooled lithium iron phosphate energy storage system, which will become an important part of the integrated and integrated base of "fire, wind, solar and storage, and multi-energy complementation" in Jiangsu Binhai after completion.
Huaneng Group
In 2023, Huaneng Group's installed capacity of new energy will exceed 72 million kilowatts, with an increase of more than 20 million kilowatts.
In the first quarter of this year, Huaneng Group's nearly 34 million kilowatts and a total of 222 new energy projects started and resumed work, all of which focused on the large-scale development of the base, highlighted the "three lines and one belt", and deeply implemented the "four modernizations" development model, namely the integration of wind, solar, thermal and storage in the north, the diversification of wind and nuclear smart energy in the eastern coast, the integration of water, wind and solar in the southwest, and the integration of wind, solar, load and storage in the central and eastern regions, and the continuous growth of new energy investment.
Huadian Group
In 2023, Huadian Group's installed capacity of new energy will increase by 127.7% year-on-year, and it is expected that the new installed capacity of new energy will be about 18.46 million kilowatts.
In 2023, the first batch and the second batch of 4.1 million kilowatts of the country's Shagehuang wind, solar and thermal storage new energy base developed and constructed by Huadian Group in Xinjiang will all be connected to the grid for power generation; The world's largest single Tianjin Haijing 1 million kilowatt "salt-light complementation" project is connected to the grid at full capacity; The world's highest Tibet Caipeng 50 MW photovoltaic power generation project is connected to the grid for power generation; New breakthroughs have been made in the development of offshore wind power.
At the beginning of this year, 72 landmark major projects, including the 6.1 million kilowatt new energy project of the Gobi base at the northern foot of the Tianshan Mountains of Huadian, started construction.
Datang Group
In 2023, Datang Group's new energy will start construction of 14.3 million kilowatts and put into operation 11.55 million kilowatts, which are 1.31 times and 1.39 times the highest year in history, respectively.
Since the beginning of this year, major new energy projects such as China Datang Zhongning Energy Storage Project, Danzhou 1.2 million KW Offshore Wind Power Project, Changtu Jinshan Phase II 150MW Wind Power Project, Fengqiu 100MW Wind Power Project, Luohe Linying Wind Power Project, Mengdong Huolinhe Photovoltaic Project, Boluo Gongzhuang 150MW Composite Photovoltaic Project, and Muding Shangguanyintang 27MW Photovoltaic Project have continued to advance.
Three Gorges Corporation
In 2023, CTG's new grid-connected capacity will exceed 18 million kilowatts, with a cumulative installed capacity of 52.06 million kilowatts.
In recent years, the Three Gorges has actively developed onshore wind power and photovoltaic power generation, vigorously developed offshore wind power, accelerated the construction of large-scale wind power and photovoltaic power generation bases focusing on deserts, Gobi and deserts, promoted the integration of source, grid, load and storage and the complementary development of multi-energy, and carried out pumped storage, new energy storage, hydrogen energy, solar thermal and other businesses. At the same time, investing in related industries with a high degree of relevance to new energy business, complementary advantages and strategic synergies has basically formed a business pattern of mutual support and coordinated development of wind power, solar energy, energy storage, and strategic investment.
Article source: Energy & Power Says