United Photovoltaics 2016 revenue boosted by 415.4MW of new PV power plants

Facebook
Twitter
LinkedIn
Reddit
Email
The company reported 1,345,830MWh of total electricity generated by its plants in 2016, up 56.5% from the previous year. Image: United Photovoltaics

China-based PV energy provider (PVEP) United Photovoltaics Group reported a 58% increase in revenue for 2016, driven primarily by the addition of 415.4MW of new PV power plants under ownership.

United PV ended 2016 owning and operating a total of 31 utility-scale PV power plants in China with a total capacity of 1,291.4MW. The company also owns distributed power plants, comprising of standalone rooftop solar plants (including 100MW of ‘Top Runner’ projects) as well as combined PV with agricultural facilities. 

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

The company reported 1,345,830MWh of total electricity generated by its plants in 2016, up 56.5% from the previous year. Solar power plants located in Inner Mongolia and Qinghai contributed approximately 38.7% and 23.2% of the total electricity generation respectively, compared to 39.8% and 36.1% respectively in 2015.

United PV reported revenue of RMB998 million (US$144.8 million), up from RMB631 million in 2015. EBITDA was RMB841 million (US$122 million), up from RMB480 million. EBITDA margin was 84%, up from 76% in the previous year. Gross profit for the year was RMB382 million (US$55.2 million), up 2% from the previous year. 

United PV also noted that it had developed its Global Smart PV Cloud Management Center in 2016, which was designed to improve the overall operating efficiency of its power plant assets. As a result, United PV started its own operations and maintenance (O&M) services on several power plants, which were said to have helped EBITDA margin gains in 2016. 

The company is expanding outside China, having acquired six PV power plants in the UK, totalling 82.4MW in January, 2017 and has ambitions to grow its business in Europe, Japan, Australia and the US.

10 March 2026
Frankfurt, Germany
The conference will gather the key stakeholders from PV manufacturing, equipment/materials, policy-making and strategy, capital equipment investment and all interested downstream channels and third-party entities. The goal is simple: to map out PV manufacturing out to 2030 and beyond.

Read Next

July 4, 2025
Australian retailer AGL Energy has confirmed its acquisition of South Australia’s Virtual Power Plant (SAVPP) from Tesla.
Premium
July 3, 2025
Meeting the UK’s solar targets will not simply require the installation of new capacity, but investment in grid infrastructure and training.
July 3, 2025
Malaysian engineering and infrastructure giant Gamuda has expanded its presence in the Australian renewables sector by partnering with Tasmanian landowners to build a 1.2GW portfolio, which includes solar PV.
Premium
July 2, 2025
ANALYSIS: China's leading PV manufacturers are locked in a new round of competition, aiming to outpace each other through record-breaking feats.
July 2, 2025
Investment manager Quinbrook Infrastructure Partners has begun commercial operations at a 373MW solar PV plant in the UK.
July 2, 2025
Indigenous-led renewable energy company Yindjibarndi Energy Corporation (YEC) has submitted plans for a hybrid wind and solar PV renewable energy project to the Australian government’s Environment Protection and Biodiversity Conservation (EPBC) Act.

Subscribe to Newsletter

Upcoming Events

Media Partners, Solar Media Events
September 2, 2025
Mexico City, Mexico
Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 22, 2025
Bilbao, Spain
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK