Lower Tariffs and Gas Sales Weigh on China Suntien Green Energy

China Suntien Green Energy has wind power and photovoltaic projects across China, with consolidated renewable energy installed capacity of 8.20 gigawatts as of the end of 2025. Most of the firm’s consolidated wind power installed capacity was in Hebei. Suntien also sells natural gas and owns natural gas transmission and ancillary facilities in Hebei. We believe the renewable energy and natural gas businesses are complementary to each other, which helps to reduce earnings volatility and diversify operational risks. While more than 90% of Suntien’s revenue was derived from Northern China, the firm is actively looking for opportunities in other regions as well as overseas.