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Yue Dian Li A: The newly commissioned photovoltaic projects, affected by the electricity market environment and policies, have not fully realized their power generation capacity and benefits.

MeNews
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Abstract generation in progress
ME News reported that on May 20 (UTC+8), Guangdong Electric Power A said during research with specific counterparties that in the first quarter of 2026, due to the combined effects of growth in electricity generation and a decline in electricity prices, the profitability level of its wind power business remained stable year-on-year. For its newly commissioned photovoltaic projects, affected by the power market environment and policies, power generation capacity and benefits have not been fully realized; the growth in power generation revenue has not yet offset the increase in related depreciation and interest expenses, and losses have widened year-on-year. The company’s 15th Five-Year Plan is still being drafted. At present, the company has 2 million kilowatts of coal-fired power generation capacity under construction, which is expected to be commissioned in 2027; for gas-fired power capacity under construction—about 2.942 million kilowatts, including Dananhai and Yunhe—approximately 485,000 kilowatts are expected to be commissioned in 2026, and the remainder is expected to be commissioned in 2027; and about 0.8 million kilowatts of new energy projects under construction. The actual commissioning timelines for the above projects may be adjusted according to construction progress. (Source: Jinshi)
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