Huaneng Power’s First-Half 2026 Electricity Sales Dip Amid China’s Green Energy Shift

Huaneng Power International ( (HK:0902) ) has shared an update.

Huaneng Power International reported that its operating power plants in China sold 98.090 billion kWh of electricity in the second quarter of 2026, down 0.97% year-on-year, and 199.578 billion kWh in the first half, a 2.97% decline, alongside a 4.58% fall in the average settlement tariff to RMB463.02 per MWh. The company attributed the lower sales and utilization hours to rapid nationwide growth in new energy capacity, which has tightened generation space for existing units and, combined with a smaller share of coal-fired capacity, is reshaping its regional and fuel-type output mix as it pursues a low-carbon strategy.

The shift toward renewables and reduced coal reliance led to mixed performance across regions and generation types, with photovoltaic and hydropower output generally rising while combined cycle and some wind and biomass segments saw declines. These trends highlight both the operational pressures and strategic repositioning Huaneng faces in a more competitive, renewables-heavy market, with implications for revenue from electricity sales and the balance of its generation portfolio as China’s energy transition accelerates.

The most recent analyst rating on (HK:0902) stock is a Sell
with a HK$4.75 price target.
To see the full list of analyst forecasts on Huaneng Power International stock,
see the HK:0902 Stock Forecast page.