China’s
sixth
largest
wind
developer
says
profits
slumped
90%
to
HK$24.8m
($3.2m),
even
as
revenues
increased
by
56%
to
$402m.
It
blames
the
sharp
fall
in
profits
on
lower
wind
speeds
and
heavy
grid
curtailment
as
well
as
fewer
EPC
projects
after
the
group
postponed
investment
in
10
approved
wind
farms
located
in
areas
with
heavy
curtailment.
China
WindPower
says
the
average
grid
curtailment
rate
increased
to
36%,
contributing
to
a
30%
drop
in
average
utilization
hours
at
its
wind
farms.
Unusually
low
wind
speeds
in
many
parts
of
China
also
reduced…
