BECE posts $68 million net profit in 2016
Revenue soared to HK$2.9 billion, from just HK$288.9 million a year earlier. EPC services accounted for 77% of the group’s revenue, at HK$2,234 million. Beijing Enterprises Clean Energy (BECE) provided EPC services for 650 MW of capacity at 18 locations last year.
Project management services for third parties contributed about 4% of its total revenue, at HK$114.3 million, according to a statement on the Hong Kong stock exchange. Revenue from the construction of projects for independent third parties hit roughly HK$2,234 million. Revenue from sales of electricity from its solar projects reached HK$214.7 million, accounting for 7.4% of the group’s total revenue from January to December 2016.
The company was operating 945.88 MW of ground-mount solar capacity at 26 locations by the end of 2016, primarily in Hebei, Anhui, Henan, Shandong and Shaanxi provinces. BECE builds its own PV arrays, but also jointly develops projects with partners and acquires operational assets. It currently has more than 2 GW of capacity under construction at 43 locations in China, including four projects under the Chinese government’s “Top Runner” program, totalling 300 MW.
In 2016, the company finished building a pilot distributed-generation array at a sewage treatment plant in Shenzhou, Hebei province. It also signed framework agreements last May with Beijing Enterprises Water Group, Beijing Properties (Holdings) and China Nanshan Development to install solar at water treatment plants and on unspecified rooftops throughout China.
Last year, BECE acquired its first wind power project, a 48 MW installation in Binzhou, Shandong province. In addition, it is now working on a load-shaving energy storage pilot in Nanjing, Jiangsu province, and a PV-powered microgrid and storage system demonstration in Jiaozhou, Shandong province.