Shanxi Coal Enterprises Actively Head for Capital Market RMB 1.5 billion of Jinneng Group Super Short-Term Bonds Sold Out
Under the trend of cutting overcapacity in coal industry and conducting supply-side reform, Shanxi coal enterprises are heading for capital market with a completely new image and a positive attitude. On 16 August, since Beijing road shows of 7 major coal enterprises of Shanxi last month, 57 domestic financial institutes, represented by Haitong Securities and GF Securities, gathered again at Jinneng Group to prepare for the release of RMB 10 billion bonds of Jinneng Clean Energy Limited.
Now it is critical stage for the transformation and upgrading of coal and power industries. Jinneng Group’s vigorous efforts in developing coal-electricity integration and clean energy in large scale started to deliver results and won the Group great popularity among investment and financing institutes. Recently, Jinneng Group has successfully released RMB 1.5 billion super short-term bonds with ICBC as the consignee and enjoy an interest rate of 3.87%. The bonds have been totally sold out now. In the future, the Group will issue bonds to support its own development.
On the afternoon of 18 August, 100 more delegates, including presidents of banks and managers from enterprises, assigned by the Finance Office of Shanxi Province, the Department of Coal Industry of Shanxi Province and the State-owned Assets Supervision and Administration Commission of Shanxi Provincial Government, visited the JINERGY’s production base of PV cells and modules in Wenshui, Lvliang to get a closer look at the scaled development of clean energy. Dr. YANG Liyou, General Manager of JINERGY, introduced that, the company has successfully developed three high-end technical products, namely, high-efficiency polycrystalline PV modules, PERC monocrystalline PV modules and super high-efficiency heterojunction modules, based on previous research efforts and the development strategy of “production, research & development and reserve”. Moreover, it is expected to improve the production capacity of 270W high-efficiency polycrystalline PV modules to 90% next year. The tremendous demands for high-efficiency modules on the market will be met by then.
As the largest company in Shanxi in respect of power generation, power supply and clean energy development, Jinneng Group has witnessed a rapid development of its clean energy subsidiary JINERGY, with an installed capacity of 1.67 GW, representing an increase of 22 times. Since its establishment and operation in September 2014, JINERGY has been constantly improving the average efficiency of polycrystalline cells with the conventional process in mass production. Currently, the average efficiency of polycrystalline cells has exceeded 18.7%. Also, the 2GW heterojunction solar cells and modules manufacturing base in Shanxi Jinzhong, started from February 2016, will push the company to raise cells conversion efficiency to 22.5% and to occupy a leading position worldwide.
WANG Qirui, Jinneng Group Secretary of the Communist Party Committee and Chairman of the Board, stressed that the Group will have an installed clean energy capacity of 3 million KW and become a Top Runner to lead clean energy development of Shanxi Province in the following two years.
