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Home > News > Company newsOn December 29, 2023, PowerChina Clean Energy Infrastructure REITs was approved by the Securities Supervision Commission and the Shanghai Stock Exchange, becoming the first public offering REITs project in the national hydropower industry, the first in Sichuan Province, and the first in ethnic minority areas. PowerChina became the seventh central enterprise to be approved for public offering REITs projects.
This project is the effective practice of PowerChina under the guidance of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, in-depth implementation of the decision-making and deployment of the Party Central Committee and the State Council, and focusing on promoting high-quality development and green and low-carbon transformation. The breakthrough of hydropower plants as the basic assets for the first time has injected a new asset type into the public offering REITs market in our country, and also provided a reference model for the revitalization of clean energy assets, which is of milestone significance.
Through the asset listing platform of public offering REITs, Power Construction of China can open up the asset revitalization channel, use the recovered funds to invest in the construction of new projects, and build an investment and financing cycle of "investment, construction, operation and effective revitalization". It is an innovative asset management method that deeply implements the group's "all assets can be operated" concept and combines revitalizing existing assets, optimizing capital structure and reducing leverage and reducing liabilities.
The basic asset of this public offering REITs project is the Wuyiqiao Hydropower Station held by Power Construction Hydropower Development Company. The project is located in Ganzi Tibetan Autonomous Prefecture, Sichuan Province, with an installed capacity of 137,000 kilowatts. The approval of the
project is the result of the joint cooperation between the investment and operation platform and the financial platform. It is a successful practice of Power Construction China to further promote the operation of all-factor assets, continuously improve the operation efficiency and development quality, and realize the integration of industry and finance. Power Construction Fund Company is the lead coordinator of the project, responsible for leading the organization and promoting the issuance of public offering REITs projects and other related work. Power Construction Hydropower Development Company is the original owner and operation management coordinating agency of public offering REITs, and is responsible for the overall operation and management of public offering REITs after listing.
