Huaneng Renewables Corporation

China’s Largest Producer Of Wind Power


Huaneng Renewables Corporation Limited (HNR) is a subsidiary of China Huaneng Group, China’s largest electric power producer, and is the largest producer of wind power in the country by revenue.

Get The Timeless Reading eBook in PDF

Get the entire 10-part series on Timeless Reading in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues.

We respect your email privacy

Q1 hedge fund letters, conference, scoops etc, Also read Lear Capital: Financial Products You Should Avoid?

Huaneng Renewables Corporation

It sells wind power directly to the grid operators, as well as in the market. It also sells solar power.

Business Description

HNR is the wind power producing subsidiary of China’s biggest power company, China Huaneng Group, and has the highest wind power utilization rate in the country. As of 2017, the company had total installed capacity of 11,567MW, 92% of which was wind power. Of total revenue, 91% comes from wind power and 9% from solar power.

In 2017, HNR sold just under 1/3 of total power output through direct sales, while the rest was sold into the market.

Huaneng Renewables Corporation

Thanks to government policy, China is now the biggest market globally for wind power. However, the country’s grid-connected capacity is vulnerable to curtailment restraint, meaning wind is available but left unused. Curtailment occurs for any number of reasons ranging from grid congestion to local incentives to support the coal industry over renewables. For example, in 2015, about 15% of China’s wind energy was wasted because of curtailment issues.

Against this backdrop, HNR has been slowing its capacity expansion which will boost utilization and help offset the curtailments.


Lin Gang currently serves as the Chairman of Huaneng Renewables after being appointed to this position in 2017. He joined the company in 2008 as a Senior Engineer and later became the President before he was appointed to his current role. He has also held numerous other positions within Huaneng Group. His education consists of a Bachelor’s degree from Peking University and another Bachelor’s degree along with Master’s degree from North China Power College.

Huaneng Renewables Corporation

Cao Shiguang was appointed the President of HNR in 2017 as well. In addition to his presidency, he also holds the position of Chief Accountant and Executive director at HNR as well as other positions within the Huaneng Group. He graduated with Master’s degree in Engineering from North China Electric Power University and received his doctorate degree from Harbin Institute of Technology, China.

World Class Benchmarking

Huaneng Renewables has had a fairly average Profitable Growth, ranked at #5 since 2016. The company ranked among the top 140 of 280 large Utilities companies worldwide.

Profitability has improved to #4 from being ranked at #8 in 2013-2014. Growth has mostly ranked above average and fell to #2 from #4 in the past 12 months.

Huaneng Renewables Corporation

Asset utilization has consistently been ranked among the worst while the opposite is true for Profit margin.

Sales growth has ranked in the top 20% all years except in 2014. Margin change has mainly been in the green as well, but fell to an average rank in the past 12 months.

Article by Become A Better Investor


Saved Articles

The Life and Career of Charlie Munger

Charlie is more than just Warren Buffett’s friend and Berkshire Hathaway’s Vice Chairman – Buffett has actually credited him with redefining how he looks at investing. Now you can learn from Charlie firsthand via this incredible ebook and over a dozen other famous investor studies by signing up below:

  • Learn from the best and forever change your investing perspective
  • One incredible tidbit of knowledge after another in the page-turning masterpiece of a book
  • Discover the secrets to Charlie’s success and how to apply it to your investing
Never Miss A Story!
Subscribe to ValueWalk Newsletter. We respect your privacy.

Are you an intelligent investor?

ValueWalkPremium is a website and newsletter for smart investors like yourself. We focus on the latest hedge fund industry news much of which is not in the public domain and obtained via our sources.

We also have 10 years of resources on how to use this information to better your investment process.

Sign up for  today for only a few dollars a day and get a 3 day no obligation trial with a targeted 20% discount coupon code.

Cancel anytime during trial and you are never charged.

Limited time offer: For first 50 subscribers