Jingyuan coal enters the power industry

Jingyuan Coal Power Co., Ltd. decided to invest RMB 490 million to establish the Jingyuan Coal Industry Group Baiyin Thermal Power Co., Ltd. (hereinafter referred to as “Gansu Power Investment”) together with Gansu Provincial Power Investment Group Co., Ltd. (hereinafter referred to as “Gansu Power Investment”), responsible for construction and operation Silver heat and power cogeneration project to cut into the power industry and realize coal and electricity integration.

According to the announcement, the business scope of the proposed company's silver thermal power includes thermal power generation, power supply, urban central heating and gas supply, etc. The registered capital is 700 million yuan, of which Jingyuan coal power will invest 490 million yuan in cash, accounting for registered capital. 70%, Gansu Electric Investment plans to invest 210 million yuan, accounting for 30% of the registered capital.

The most important purpose of the formation of silver thermoelectricity is for the smooth implementation of the silver cogeneration project. The Silver Cogeneration Project is an industrial project supported and developed by the country and a key project for energy development in the “Twelfth Five-Year Plan” of Gansu Province. Its preliminary planning capacity is 4×350MW. In this period, 2×350MW supercritical coal-fired air-cooled cogeneration The unit is a new construction project.

According to reports, the project plans to invest 2.9 billion yuan in the current period, of which Baiyin Thermal Power will invest less than RMB 700 million in its own funds, and the remaining portion will be financed by Baiyin Thermal Power through debt financing. At this stage of the project, two sites will be considered, namely the Yindong site and Yinnan site. The project is scheduled to start in March 2013 and the first unit will be put into operation in November 2014. The investment partner Gansu Power Investment Co., Ltd. is a wholly-owned company of the Gansu Provincial State-owned Assets Supervision and Administration Commission with a registered capital of RMB 3.6 billion. Its main business is investment, financing, holding, and construction of power projects and other major projects in the province.

Jingyuan Coal Power said that by investing in the establishment of silver thermal power and constructing a silver cogeneration project, the company will enter the power industry and the industrial chain will be extended. The company’s deep processing and utilization capabilities of coal will also be improved, which is in line with the development of coal-electricity integration. trend. In addition, the company's coal sales will be further protected after the completion of the project, and its resilience to the coal market risks will be improved.