China Three Gorges Renewables Remains Vulnerable to the Risk of Lower Tariffs

China Three Gorges Renewables is a subsidiary of China Three Gorges, the largest hydropower producer in the world and a leading renewable energy player in China. While other sister companies like China Yangtze Power focus on hydropower, CTGR concentrates on other renewable energy including solar and wind. CTGR has a total generation capacity of about 48.0 gigawatts as of the end of 2024. The firm is also one of the largest offshore wind farm operators in China, with 7.0 GW of installed capacity at the end of 2024, representing about 17% of China’s total offshore wind capacity. Furthermore, CTGR owns about 9.2% direct stake in Goldwind Science & Technology, a leading wind turbine manufacturer, as of the end of 2024.