Page 8 - AsiaElec Week 31

AsiaElec COMPANY NEWS AsiaElec
Siemens Gamesa doubles interim profits
GLOBAL
SIEMENS Gamesa increased interim revenues and almost doubled its pro ts in the rst nine months of its 2019 scal year as it posted record quarterly orders, particularly from the o shore wind sector.
Revenues between from October 2018 to June 2019, the rst nine months of the compa- ny’s nancial year to September, rose by 12% to €7.28bn ($8.1bn), while net income was 97.7% higher at €88m ($97.7m). In the third quarter from April to June, it logged €4.7bn ($5.2bn) of new turbine orders, a 42% year-on-year increase, driven particularly by a strong performance in new o shore markets, which partially compen- sated for lower pricing in its order backlog.
Its order book now stands at €25.1bn ($27.9bn), an 8% y/y increase, while orders in the last 12 months rose by 2.2% y/y to €12.3bn ($13.7bn).
e company said that record orders meant that it had covered 98% of its revenue guidance for the whole 2019 nancial year by the 9-month mark.
“Commercial activity remained sound dur- ing the period, supported by strong growth in
all business units, particularly new o shore mar- kets such as Taiwan,” the turbine maker said in a statement.
Despite pro ts almost doubling, the company noted that a number of factors had held back net income. ese included: persistant lower pricing in the order backlog; emerging market volatility and challenges at some onshore projects.
However, improvements in productivity and higher y/y sales volume helped to drive pro ts up, the company explained.
Looking ahead, the company said: “Although short-term headwinds temporarily hamper group margins, Siemens Gamesa’s long-term prospects remain solid thanks to a record back- log, geographical and business diversi cation and one of the most competitive product port- folios, both onshore and o shore.”
Siemens Gamesa said it was positive about its long-term prospects despite a complex short- term industry environment.
Average annual wind installations are set to roughly double until 2040, according to the International Energy Agency (IEA), and the company is con dent of continued expansion.™
POLICY
Major blackout darkens Jakarta
Indonesia’s state power company PT Perusahaan Listrik Negara (PLN) estimates it will take a further three hours to restore electricity to Jakarta following a major power blackout in the capital and surrounding provinces, the company’s acting chief executive said Sunday.
“Hopefully for the Jakarta system, if everything goes to plan and the generating system is reliable, smooth supply should return in approximately three hours,” Sripeni Intan Cahyani told a news conference.
She said electricity customers in the provinces of West Java and Banten should
get power back within four to ve hours. “Hopefully it would not go beyond midnight,” she said.
PLN said disruption in an unspeci ed transmission system “resulted in the failed power transfer from east to west,” leading to electricity tripping out across all power plants on the central and western sides of Java.
NEWS IN BRIEF
e mass rapid transit system had to evacuate passengers from trains a er the power outage, the company that operates the system said in a statement.
Thailand targets cheaper power
e ai Ministry of Energy aims to lower the electricity cost to less than THB3.60 ($0.12) per unit, apart from carrying out several other initiatives, according to Energy Minister Sontirat Sontijirawong.
Speaking at the Energy Disruption: ai energy in the age of disruption seminar organised by Krungthep Turakij newspaper, Sontirat said there was a need to adapt to new technologies in the energy sector.
“In the past, we had fossil fuels and the Electricity Generating Authority of ailand [Egat] was the major producer of electricity,” he said. “But this is about to change due to the disruption that will create a new energy channel in the future.”
Sontirat said he had instructed the ministry to formulate an “Energy for all” policy that
will support the public as well as raise the level of the country’s competitiveness.
“ e main policy that will be driven
next is ‘Sustainable Development Goals’ for a ordable and clean energy, the latter leading to the creation of community energy grid modernisation, electricity sales platform, and in the future, the smart meter,” he said, adding that these technologies would be the game- changer in the future.
Sontirat said he had instructed the ministry to revise the Power Development Plan (PDP) for 2018-2037 by raising the proportion of renewable energy such as solar, biogas and biomass through community power plants.
COAL
China coal approvals surge despite climate pledges
Approvals for new coal mine construction in China have surged in 2019, with the energy regulator giving the go-ahead to build 141 million tonnes of new annual coal production
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Week 31 06 •August•2019