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BEIJING - SDIC Power Holdings Co., Ltd. (GDR:SDIC) reported a slight increase in electricity generation for the second quarter of 2025, with total output from its domestic holdings reaching 38.067 terawatt-hours (TWh), up 0.52% compared to the same period last year, according to a press release statement.
The company’s net electricity generation for Q2 rose 0.59% year-over-year to 37.074 TWh, while the first half of 2025 saw slight declines of 0.54% and 0.25% in gross and net generation respectively compared to H1 2024.
Hydropower remained SDIC’s largest generation source in Q2, producing 22.511 TWh, a 2.85% increase from the previous year. Solar power showed the strongest growth, surging 52.39% to 1.786 TWh, while thermal power generation declined 8.10% to 11.971 TWh.
The average on-grid tariff across SDIC’s domestic holdings fell to 0.350 RMB/kWh in Q2, representing a 4.6% decrease from Q2 2024. For the first half of 2025, the average tariff was 0.353 RMB/kWh, down 6.4% year-over-year.
SDIC attributed the tariff decline to changes in its generation mix, with lower thermal power production reducing the proportion of higher-priced electricity. The company also cited declining medium-to-long-term trading prices for thermal power in certain regions and an increasing share of subsidy-free renewable energy projects.
The company’s installed capacity under holding and operation decreased by 546.2 MW during the quarter, primarily due to the handover of Phase I of the Meizhou Wan Power Plant BOT project (786 MW). This was partially offset by newly added capacity including 99.8 MW of wind power, 70.5 MW of solar power, and 69.6 MW of energy storage.
As of June 30, 2025, SDIC’s total operational installed capacity stood at 44,088.5 MW, with hydropower accounting for 21,304.5 MW, thermal power 12,414.8 MW, wind power 3,988.3 MW, solar power 5,849.4 MW, and energy storage 531.6 MW.
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