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    Home > Chemicals Industry > China Chemical > Sinopec issues the first green "carbon neutral" bond in Xiongan New Area

    Sinopec issues the first green "carbon neutral" bond in Xiongan New Area

    • Last Update: 2022-04-23
    • Source: Internet
    • Author: User
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      A few days ago, Sinopec Luyuan Geothermal Energy Development Co.
    , Ltd.
    (hereinafter referred to as Sinopec Luyuan Company), a subsidiary of Sinopec Nova, successfully issued the first green "carbon neutral" ABS bond in Xiong'an New Area on the Shanghai Stock Exchange, with an issuance scale of 3 100 million yuan, the issuance period is 3+2 years, and the raised funds will be used to further increase the development and utilization of geothermal resources and technology research and development in geothermal-related fields

    .

      The issuance of green "carbon neutral" bonds combines the two connotations of "carbon neutrality" and "Xiongan New Area construction".
    It provides innovative ideas for helping the development of the geothermal industry in Xiongan New Area through green finance

    .
    Once the bond was launched, it was fully recognized by market investment institutions, and investors from all parties actively subscribed

    .

      Green bonds refer to bonds that raise funds specifically to support climate or environmental projects.
    As an important part of green finance, green bonds can not only help funds enter the green field and meet the funding needs of green and low-carbon projects, but also promote green and low-carbon enterprises.
    transformation

    .
    In April 2021, Sinopec successfully issued green bonds for the first time - equity-funded carbon neutral bonds, with an issuance scale of 1.
    1 billion yuan and a 3-year issuance period.
    The funds raised were used for the company's photovoltaic, wind power, geothermal and other green projects.
    The first carbon neutral bond issued by a company

    .

      The original owner of the bond issuance, Sinopec Luyuan Company, is a joint venture established by Sinopec Nova and Iceland Polar Green Energy Company.
    It was established in 2006 and is headquartered in Xiong'an New Area.
    At present, more than 100 clean heating and heating stations have been built in the three counties of Xiongan, with a heating capacity of over 10 million square meters, which can replace 190,000 tons of standard coal and reduce carbon dioxide emissions by 494,000 tons

    .

      Sinopec is a leader in the development of China's geothermal industry
    .
    In 2009, the "Xiong County Model" of geothermal energy development and utilization was successfully created

    .
    In 2017, China's first heating geothermal city was built in Xiong County, Hebei

    .
    In July 2021, "Xiongxian Geothermal" was selected into the list of global promotion projects

    .
    During the 2021-2022 heating season, a total of 796 geothermal stations have been put into operation, and the newly added geothermal heating capacity has increased by 18% year-on-year

    .
    Up to now, Sinopec's geothermal heating area has reached 80 million square meters, accounting for more than 30% of the national geothermal heating area.
    It can replace 1.
    85 million tons of standard coal and reduce carbon dioxide emissions by 3.
    52 million tons each year

    .
    In addition, Sinopec will also be the organizer of the 7th Geothermal Conference to be held in Beijing in April 2023, which is the first time China has hosted this international event

    .

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