The parent enterprise purchased the 230,000 KW wind power project in Ireland and GFC New Energy may benefit

On December 8, CGN Ouneng completed the acquisition of 100% equity of the Douvan wind power project of Ireland's Gaelectric company, including 230,000 kilowatts of installed capacity
.

The Douvan project is the largest investment project by a Chinese company in Ireland to date
.
Located in Ireland and Northern Ireland, UK, the Douvan Project consists of
ten wind farms in operation and four wind farms under construction.

According to Lu Wei, general manager of CGN Ou Energy, the project can meet the electricity needs of 120,000 households and reduce carbon dioxide emissions by 250,000 tons
per year.

The transaction between CGN and Gaelectric has been completed, and this can only be regarded as the beginning
of the cooperation between the two companies.
Barry Gavin, CEO of Gaelectric, said that through this transaction, he hopes to form a long-term relationship with CGN Euroneng to jointly develop and invest in about 1GW of wind, solar and compressed air energy storage development projects it owns in Ireland, the United Kingdom and other European countries, and jointly expand asset operation and electricity sales business
.

In 2016, CGN OuNeng made great gains, winning the bid for the pilot offshore floating wind power project in France, the acquisition of the largest operating wind farm in Belgium, and the acquisition of a solar project
in Senegal.

Up to now, CGNPC's overseas new energy holding capacity is nearly 9 million kilowatts, mainly distributed in more than a dozen countries
such as the United Kingdom, France, Belgium, Ireland, Egypt, South Korea, Malaysia, Bangladesh, the United Arab Emirates, and Australia.
CGN is one of China's largest energy companies with the largest installed capacity overseas, the largest independent power producer in Egypt and Bangladesh, and the second largest independent power generator in Malaysia
.

Zhitong Finance learned that CGN New Energy (01811) is CGNPC's only non-nuclear clean energy listing platform, and the group will gradually inject non-nuclear clean energy into the company
.
The company's total installed capacity of equity as of June 30 was 5,082MW, an increase of only about 17MW from the end of 2015, and the total installed capacity was basically the same as at the end of 2015, and the new capacity was all solar projects
.

It is reported that the company will further purchase wind power and photovoltaic assets from the parent company CGN Group, and the parent company will gradually inject 8.
7GW of wind power assets and about 2GW of solar capacity assets of CGN New Energy
.
Industrial Securities and Guoyuan Securities recommend that investors pay attention to the asset injection
of the parent company into the company.
CGN may further benefit
from the continuous expansion of new clean energy projects overseas and the injection of CGN New Energy assets.