Wind farm in China. Author: Land Rover Our Planet. License: Creative Commons, Attribution-NoDerivs 2.0 Generic
China Longyuan Power Group Corp Ltd (HKG:0916), which has 17.4 GW of wind power plants in its portfolio, last week completed the issuance of a CNY-2-billion (USD 290m/EUR 258m) green bond.
The fixed interest rate bonds have a five-year term and bear a coupon of 4.90%. The power producer has an option to adjust the rate.
The proceeds will go for project investment and construction, and repayment of bank borrowings for China Longyuan projects. At the end of March the company had 17,340 MW of wind farms and 1,875 MW of coal-fired power plants in its portfolio, in addition to some other renewable energy capacities.
In the first quarter of 2017 China Longyuan reported a net profit of nearly CNY 1.32 billion, slightly down from CNY 1.36 billion a year ago, on revenues of CNY 6.08 billion. The wind business revenue stood at CNY 3.81 billion.