Three Gorges Energy's Q4 2024 and Cumulative Power Generation
Recently, Three Gorges Energy (600905) announced its 2024 power generation performance. The company achieved a total power generation of 19.329 billion kWh in Q4 2024, up 27.62% YoY. Specifically, wind power generation reached 12.937 billion kWh, up 17.83% YoY; solar power generation was 5.99 billion kWh, up 53.24% YoY; hydropower generation was 198 million kWh, down 4.35% YoY; and standalone ESS power generation was 204 million kWh, up 300% YoY.
In 2024, the cumulative total power generation of Three Gorges Energy was 71.952 billion kWh, up 30.4% YoY. Specifically, wind power generation reached 45.173 billion kWh, up 15.96% YoY; solar power generation was 25.401 billion kWh, up 65.44% YoY; hydropower generation was 820 million kWh, up 6.36% YoY; and standalone ESS power generation was 558 million kWh, up 469.39% YoY.
According to the information, as the strategic implementation entity of the Three Gorges Group's new energy business, Three Gorges Energy has actively developed onshore wind power and PV power generation in recent years, vigorously promoted offshore wind power, and accelerated the construction of large-scale wind and PV power bases focusing on deserts, Gobi, and barren lands. The company has also advanced the integrated development of generation-grid-load-storage and multi-energy complementarity, while exploring pumped storage, new-type ESS, hydrogen energy, and solar thermal energy businesses. Additionally, the company has invested in related industries with high correlation to the new energy business, leveraging complementary advantages and strategic synergies. It has essentially established a business structure where wind power, solar power, ESS, and strategic investments support and develop in coordination with each other.
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