CGN New Energy's profit narrows in 2016

The Chinese independent power producer's profit attributable to shareholders plunged 23.5% year on year to $79.5 million, as revenue slid 6.7% to $1.07 billion in the 12 months to the end of December.Its operating profit expanded by 11.6% from the same period a year earlier to $177.4 million, largely due to revenue from its solar and wind projects. Full-year revenue from its solar projects jumped to $36 million, from $14.5 million in the 12 months to the end of December 2015. However, ...

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