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State Grid's revenue up 9.4% in 2011

Feb. 23, 2012 (China Knowledge) - State Grid Corp of China, the nation's largest power supplier, reaped RMB 1.68 trillion in operating revenue last year, 9.4% more than in 2010.

In a statement, the Chinese power giant said operating revenue for 2012 is expected to reach RMB 1.94 trillion.

Last year, State Gird saw its gross profit reach RMB 53.36 billion. The firm's electricity sales increased 13.68% year on year from 2.69 million gigawatt hours to 3.09 million GWh.

The company had 43.94 GW in wind power capacity as of Dec. 31, 2011, and the capcity is estimated to reach around 90 GW by the end of 2015.

This year, the power supplier intends to invest more than RMB 300 billion in domestic smart grid networks.

In the international market, State Grid said it will participate in the development of extra-high-voltage grid and smart grid projects in foreign countries, including Brazil, India and Russia, as well as investing in renewable energy projects in the Europe and the America.

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