SDIC Power reports 14.42% drop in Q3 electricity generation

BEIJING - SDIC Power Holdings Co., Ltd. (LSE:SDIC) reported a 14.42% year-on-year decrease in electricity generation for the third quarter of 2025, according to a statement released Friday.

The company’s holding enterprises generated 47.891 billion kilowatt-hours (kWh) of electricity between July and September, while on-grid energy reached 46.808 billion kWh, also down 14.42% compared to the same period last year.

For the first nine months of 2025, SDIC Power’s cumulative power generation totaled 124.950 billion kWh, representing a 6.36% year-on-year decline. On-grid energy for the January-September period stood at 121.980 billion kWh, down 6.21%.

The company’s average on-grid tariff decreased to RMB 0.334/kWh in the third quarter, a 0.9% reduction from the same period last year. For the January-September period, the average tariff fell 3.9% year-on-year to RMB 0.346/kWh.

By energy source, thermal power generation saw the steepest decline, dropping 18.5% in the third quarter and 20.15% for the first nine months of 2025. Hydropower generation decreased by 14.8% in Q3 and 1.27% for the nine-month period.

Solar power was the only segment showing significant growth, with generation increasing 32.98% in Q3 and 38.48% for the January-September period, attributed to new projects coming online.

Wind power generation remained relatively flat, decreasing 1.4% in Q3 despite increased installed capacity, which the company attributed to insufficient wind resources and power curtailment.

SDIC Power’s total installed capacity reached 44.7485 million kW by the end of September 2025, with hydropower accounting for 21.3045 million kW, thermal power 13.0748 million kW, wind power 3.9883 million kW, solar power 5.8494 million kW, and energy storage 531,600 kW.

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