On June 30, Linyang Energy entered into a financing partnership with the International Finance Corporation (IFC), a member of the World Bank Group, which will provide the company with a US $60 million loan to develop and build low-cost photovoltaic power stations in China. As a member of the World Bank Group and the world’s largest international development agency focused on private sector development in emerging markets, IFC is committed to promoting green industry solutions and market expansion. This concept coincides with the company’s current development direction of renewable energy business. The two parties will fully combine their respective resources, capital and other advantages to jointly promote the sustainable development of global clean energy.
As another important breakthrough of Linyang Energy’s overseas direct financing, obtaining this loan not only means that the company’s renewable business obtains the international capital support, but also reflects the company’s excellent comprehensive strength and high management level. The world Bank Group’s international platform not only helps Linyang expand overseas financing channels, but also plays a positive role in promoting the development of overseas business.
In recent years, renewable energy is the fastest growing business segment of Linyang Energy. The company has the whole industrial chain layout of photovoltaic power station integrating development, investment, design, construction and operation. Up to now, the scale of photovoltaic power station operated by the company is about 1.5GW, and the reserve project is nearly 3GW. At the beginning of this year, the company further confirmed its strategic positioning: Be a First – Class Product and Operation Service Provider in the Global Field of Smart Grid, Renewable Energy and Energy Efficiency Management. With the advent of photovoltaic power parity era, the company will further increase the proportion of self-owned power stations and low-cost projects, constantly optimize asset allocation and investment layout, and open up new growth space for photovoltaic parity power station.
In 2019, the National Energy Administration issued the Notice on The Active Promotion of Wind power and PV power generation at unsubsidized parity, marking the beginning of the era of PV parity. Since the beginning of this year, with the joint efforts of a large number of outstanding enterprises in all links of the industrial chain, the construction cost of photovoltaic power station has dropped significantly, the yield rate of low-cost power station has generally risen, and the vitality of the whole market has been re-stimulated. Some experts predict that by the end of the 14th five-year Plan, photovoltaic power generation will become the new renewable energy power technology with the lowest power generation cost, and the new installed capacity of photovoltaic power generation is expected to reach about 260GW in 2021-2025.
The photovoltaic industry is bursting with infinite vigor and vitality, and the new era of photovoltaic is about to start. With such background, Linyang Energy gives full play to the advantage of financing and received bank loan credit total about 7 billion RMB in 2019. With the aid of IFC, national import and export bank and other financial institutions domestic and abroad in 2020 and taking full advantages of the company “project development, system design and integration, GW level power plant operation and maintenance”, Linyang accelerates the development of renewable energy business. Since the beginning of this year, with the breakthrough of “efficient solution + scientific operation and maintenance service”, the company has enhanced its differentiated competitive advantages, carried out in-depth cooperation with state-owned enterprises and central enterprises, and successively signed system integration service contracts with a total amount of more than 1.2 billion RMB. At the same time, the company actively participated in the application of PV parity and bidding projects this year, and achieved good results in the target region. The renewable business is entering a new stage of accelerated development. This cooperation with IFC will add new momentum to the development of new energy business, help to improve the company’s image and strength, and contribute to the realization of the company’s overall strategic goals!
Post time: Jun-30-2020