Top China Wind Power Producer Shines as Fewer Turbines Idled

The Chinese government’s moves to ramp up renewable energy consumption have sparked optimism over the future of China Longyuan Power Group Corp., the country’s biggest wind power producer.

Photo: LM Wind Power

Around half of the 29 analysts covering Longyuan have raised their price targets for its Hong Kong-listed stock over the past month, according to data compiled by Bloomberg. Following a 29 percent rally this year, which far outperforms a 3 percent gain in the benchmark Hang Seng Index, the stock is still trading about 14 percent below the 12-month analyst consensus target of HK$8.22.

Driving the bullishness on Longyuan and other Chinese wind power producers like Huaneng Renewables Corp. and China Datang Corp. Renewable Power Co. is a series of initiatives taken by the government recently to boost renewable energy demand and ease curtailment -- a problem caused by overly rapid wind turbine installation and infrastructure bottlenecks. Grid operators have been forced to cut back on purchases as they are unable to fully absorb the intermittent power from renewables such as wind and solar.

Read the whole article

Get 14 days free access.
No credit card required.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from EnergyWatch

Further reading

Related articles

Latest News

See all jobs