SDIC Power Q3 generation falls 14%, renewables capacity expands

In the third quarter of 2025, SDIC Power Holdings' controlled enterprises experienced a 14.42% decrease in both cumulative power generation and on-grid electricity, reaching 478.91 bn kWh and 468.08 bn kWh respectively. The average on-grid electricity price also saw a slight decline of 0.9% to 0.334 yuan per kWh. For the first nine months of 2025, total generation and on-grid electricity decreased by 6.36% and 6.21%, with the average on-grid electricity price falling by 3.9% to 0.346 yuan per kWh.

The decline in hydropower generation was primarily due to reduced water inflows, while thermal power generation was impacted by increased clean energy generation. Despite these challenges, wind power generation remained largely stable, and photovoltaic generation saw a substantial increase due to new projects.

SDIC Power's total installed controlled capacity increased by 660,000 kW in Q3, bringing the total to 44.7485 million kW by the end of September. This expansion includes 21.3045 million kW of hydropower, 13.0748 million kW of thermal power (including waste-to-energy), 3.9883 million kW of wind power, 5.8494 million kW of photovoltaic, and 531,600 kW of energy storage.