SDIC Power's Q1 power generation dips slightly, price declines

SDIC Power Holdings Co., Ltd. (SSE:600886) announced its primary operating data for the first quarter of 2025, revealing a slight decrease in both power generation and average on-grid electricity prices. The company's consolidated enterprises generated 389.92 billion kWh, down 1.55% year-on-year, while on-grid power output totaled 381.03 billion kWh, a 1.04% decrease. The average on-grid electricity price was CNY0.355 per kWh, marking an 8.25% decline compared to the same period last year. This decline is attributed to shifts in the company's energy mix, the reduction of high-price coal power generation, and the increasing proportion of non-subsidized renewable energy projects. As of the end of the first quarter, SDIC Power's installed capacity remained at 4,463.47 million kW, with hydropower constituting 2,130.45 million kW, thermal power at 1,320.08 million kW, solar at 577.89 million kW, wind power at 388.85 million kW, and energy storage at 46.20 million kW.