China’s Renewable Utilities Hit by Curtailments, Lower Tariffs, and Poor Wind Resources

Datang Renewable is one of China’s earliest renewable fuel source independent power producers. With wind power accounting for about 84% of total installed capacity as of the end of 2023, DR is poised to benefit from China’s plans to cut carbon-based pollution and ambitious targets in renewable power development. However, the company’s high financial leverage has been hindering its growth. Over the past 10 years, DR’s wind capacity rose at an average of 9% per year, lagging industry average of 19%.