OREANDA-NEWS. July 26, 2011. Wuhan Kaidi Electric Power (000939) has begun operations in the biomass energy power generation industry. Kaidi Power posted a 22.86-percent year-on-year increase in sales revenue to1.38 billion yuan in the first half of 2011, with net profit of 606 million yuan, up 452 percent year-on-year.

The company’s four major power generation plants posted total electricity production volume of 231.63 million kilowatts and net profit of 12.26 million yuan in the first half of 2011.

However, since its Languang power plant barely emerged from losses this year due to high coal prices, Kaidi Power replaced one of the power generators at the Languang plant with a biomass energy generator to reduce its dependency on coal.

The company previously acquired nine biomass-powered generators projects in November 2009 and 14 biomass power generation projects in 2010.