Latest news with #powerutility
South China Morning Post
04-08-2025
- Business
- South China Morning Post
CLP Holdings sees growth potential in Tuen Mun industrial park as first-half profit falls
CLP Holdings , one of Hong Kong's two power utility companies, said it saw growth opportunities in a proposed industrial park in Tuen Mun, as it reported a decline in first-half net profit on Monday. In July, the city's government proposed reserving 301 hectares of land in Tuen Mun for industrial development, including 145 hectares of reclamation in Lung Kwu Tan and 45 hectares in Tuen Mun West, as well as 111 hectares of replanned space. The area to be reclaimed is equivalent to 10 Victoria Parks in Causeway Bay. The industrial park is located near CLP's Castle Peak and Black Point Power Stations, both in the New Territories. 'If this industrial park is developed, [CLP] would become one of the major facilities that will provide electricity,' said Chiang Tung-keung, chief executive officer of CLP Holdings, on Monday. 'As it is close to our power station, I'm sure that the work that we need to do to provide sufficient supply would not be that significant.' 'I'm looking forward to such paths being realised,' he said. Chiang spoke after the company said its first-half net profit fell 5.5 per cent from a year earlier to HK$5.62 billion (US$715.9 million). The quarter included one-time items, mainly related to the Wooreen Energy Storage System project in Australia, the company said in a statement. Operating earnings before fair-value movements fell 8 per cent in the first half to HK$5.23 billion, according to the company's interim results.
Wall Street Journal
01-08-2025
- Business
- Wall Street Journal
Engie Shares Drop After Earnings Hit by Lower Energy Prices, Volatility
Shares in Engie fell after the French power utility's first-half earnings were dragged down by lower energy prices and market volatility. In morning European trade, shares were down 3.8% to 18.88 euros, but remain up 23% over the year to date.
Reuters
31-07-2025
- Business
- Reuters
Portugal's EDP profit dips 7% after no capital gains
LISBON, July 31 (Reuters) - Portugal's largest power utility EDP ( opens new tab on Thursday reported a 7% fall in first-half net profit despite increased output, citing lower returns from asset sales. It said consolidated net profit stood at 709 million euros ($812 million), compared to 775 million euros a year ago. EDP said it booked no capital gains from the sale of wind and solar assets – part of a strategy of disposing stakes in mature plants to finance new ones – in the first half. A year ago, it logged 184 million euros in this type of gains. Excluding capital gains, recurring net profit rose 27%, supported by a robust growth in electricity generation "with a strong contribution from U.S. operations, and a solid performance of electricity networks in Iberia and Brazil", it said in a statement. Subsidiary EDP Renovaveis ( opens new tab, the world's fourth-largest wind energy producer, on Wednesday reported a 56% fall in net profit to 93 million euros, although its recurrent profit tripled compared to a year ago boosted by its U.S. business. EDP said total electricity generation increased 12% to 34.6 terawatt-hours, sustained by high rainfall in Iberia that filled reservoir volumes to 87% of their capacity and by natural gas power plants. It added that after the April 28 power outage in Iberia, production from natural gas plants was prioritised to strengthen the resilience of the electrical system. In the Iberian market, first-half average electricity spot prices also rose to 62 euros per megawatt hour, from 39 euros a year ago, it said. Consolidated earnings before interest, taxes, depreciation and amortisation fell 4% to 2.6 billion euros, but excluding capital gains, recurring EBITDA increased by 7%. As of June, EDP's installed capacity reached 32.3 GW, up 3.1 GW from a year ago. ($1 = 0.8735 euros)
Reuters
21-05-2025
- Business
- Reuters
Polish utility Enea reports expected rise in Q1 core profit
GDANSK, May 21 (Reuters) - Polish power utility Enea ( opens new tab posted a 3.4% year-on-year rise in its first quarter core profit on Tuesday evening, supported by higher revenue from its distribution segment at a time when it seeks to expand its renewable energy offering. Earnings before interest, taxes, depreciation, and amortization (EBITDA) rose to 1.94 billion zlotys ($518.2 million), in line with Enea's preliminary estimate. Enea, Poland's third-largest power utility by market value, is under pressure from falling profitability in its coal-fired power-generation fleet as renewable energy sources capture an increasing share of the nation's energy mix. Poland is reducing its reliance on coal, which accounted for about 57% of its electricity generation in 2024, according to energy policy think tank Forum Energii. In March, Enea's unit signed an agreement to buy six wind farms and a photovoltaic project. In the coming months, it plans to acquire another portfolio of wind projects at various stages of development, with a total capacity of about 33 MW, and project companies or rights to photovoltaic farm projects with a total capacity of about 40 MW. "Changing the production mix is a priority for us, which is why we continue to search for new ... opportunities and talk to owners and developers of renewable energy projects, thanks to which we will effectively build the growth of our emission-free production sources," CEO Grzegorz Kinelski said in a statement. Enea's quarterly revenue fell 9.5% to 7.59 billion zlotys. Net profit rose 3.3% on the year to 1.05 billion zlotys. Its capital expenditures amounted to 618.3 million zlotys in the quarter. ($1 = 3.7436 zlotys)
Bloomberg
13-05-2025
- Business
- Bloomberg
South Africa's Eskom Plans Rolling Power Blackouts to Thursday
South Africa's state-owned power utility plans rolling blackouts through Thursday evening to manage limited generation capacity. Eskom Holdings SOC Ltd. will start so-called stage 2 loadshedding at 4 p.m. Tuesday, it said in a statement. Its decision follows the delayed return of units that generate 3,120 megawatts, as well as an additional loss of capacity in the past day due to unplanned breakdowns.
