CLP (2) Q1 2025 earnings summary

Executive summary

• Electricity sales in Hong Kong fell 2.6% year-over-year in Q1 2025 due to milder weather and the leap year effect, despite growth in electric transport and data centre demand.

• CLP Power advanced decarbonisation efforts, investing in clean energy infrastructure and launching AI-driven grid monitoring and drone inspections.

• Mainland China operations saw stable nuclear and solar output, but wind and hydro generation declined due to lower resources and grid curtailment.

• EnergyAustralia maintained reliable generation amid higher wholesale prices, with major maintenance at Mount Piper and Yallourn power stations.

• Apraava Energy in India expanded renewables and transmission, with strong solar and wind output and significant progress in smart meter deployment.

Financial highlights

• First interim dividend for 2025 declared at HK$0.63 per share, unchanged from 2024, payable on 13 June 2025.

• HK$240 million allocated to community energy-saving initiatives and customer support in Hong Kong.

• Average Net Tariff in Hong Kong dropped 1.3% since the start of 2025 due to lower international fuel prices.

Outlook and guidance

• CLP Power to expand EV charging network to over 250 chargers in Hong Kong by end-2025, introducing fee-based services.

• Multiple new wind and solar projects in China scheduled for completion in 2025; battery storage system to be completed mid-year.

• EnergyAustralia to expand flexible capacity with the 350MW/1,400MWh Wooreen Energy Storage System, operational by 2027.

• Apraava Energy in India expects new solar, wind, and transmission projects to come online through 2027.