Huaneng clean energy up to 25 percent by 2015
Huaneng Group, China's largest producer, aims to boost the share of clean energy in its total installed capacity to 25 percent by 2015, up from 15 percent higher in 2010.
Wu Dawei, the company's chief economist, told Reuters that China's power demand is expected to grow at an average yearly rate of 8.5 percent in the 2011-2015 period, a drop from the 11.1 percent yearly growth in 2006-2010.
He said that by 2015, China's non-fossil fuel generating capacity should account for 33 percent of total installed capacity,
Huaneng Group is the parent of listed Huaneng Power International Inc and Huaneng Renewables Corp, China's No.3 wind company, which it hopes to list in a Hong Kong initial public offering.
In 2010, Huaneng Group earned a profit before tax of nearly 7.0 billion yuan (USD1.07 billion), mostly from its hydro power, wind power and coal businesses. Its coal-fired power plants, however, are losing money because they cannot pass on soaring coal costs as power tariffs are set by the state.