Chinese developer, owner and operator of solar parks Sky Solar Holdings, Ltd. reports unaudited financial results for the first half of fiscal year 2017, ended June 30. Revenue was $30.6 million, up 6.6 percent from $28.7 million in the same period of 2016. Electricity sales were $27.9 million in the first half of 2017 (H1 2016: $25.6 million). According to the company, the year-over-year increase in electricity sales was primarily due to the increased average operational IPP assets in the first half year of 2017. Operating profit was $6.8 million, down 8.4 percent compared to $7.4 million in H1 2016. Net income in the first half of 2017 was $5.2 million, compared to a net loss of $2.2 million in the same period in 2016.
As of June 30, 2017, the company owned and operated 136.8 MW of IPP assets, compared to 159.6 MW as of December 31, 2016. The decline in IPP assets was mainly due to the sale of Greek assets. The company had 68.1 MW of projects under construction. The total pipeline was around 430 MW.
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