05.15.2017

Panda Green Energy to Invest Clean Energy Projects in Tibet and Build "Belt and Road" Multi-energy Complementary Platform


 

(Hong Kong, 15 May 2017) – The world's leading eco-development solutions provider, Panda Green Energy Group Limited (“Panda Green Energy”, stock code: 00686.HK, formerly known as United Photovoltaics Group Limited, whose largest shareholder is China Merchants New Energy Group) is pleased to announce the acquisition of 75% shares of Tibet Energy Company, and to jointly develop clean energy projects in large scale with the People's Government of Tibet Autonomous Region ("Tibet Autonomous Region Government"), located in the Tibetan Plateau region with abundant natural resources, most of which are hydropower plants, as well as solar and wind power plants. Being the leading platform collaborating supreme worldwide resources, Panda Green Energy actively combines global efforts to build the eco-community alongside “Belt and Road”.

The Tibet Plateau is known as the water tower in China and Asia. It is also an important strategic energy reserve base for west-east power transmission in China. Owning a quarter of the country's water resources, Tibet is resourceful of hydropower with plentiful runoff characterized with great drop. Hydropower projects to be jointly developed with the Tibet Autonomous Region Government center in the global best quality water resources convergence area, with great exploitation potentials. The total installed capacity upon completion is expected to be over 5GW.

The development of hydropower projects in aforementioned regions enjoys distinct advantages: geological structure stability conducing to construction, without any major geological problems; with small population and easy to accommodate; strong international and regional policies supports. Moreover, as the Tibet power grids construction is speeding up, the electricity power development in the area will usher in a major historical leap. In March this year, the National Development and Reform Commission approved the Central Tibet Grid Interconnection Project with a total investment of RMB16.2 billion, which is expected to be put into operation in 2018. The project will effectively improve the reliability of the system power supply and clean energy delivery capacity, and to extend clean energy allocation in the southwest region.

As the downstream of certain rivers drain into Southeast Asia and South Asia, the development of Tibet hydroelectric power can meet the local electricity demands to coordinate with the Tibet Railway construction and accelerate local economic development. Meanwhile, it enables power transmission to Central China as well as to areas along “Belt and Road” routes.

The Tibet hydropower development is not only a great-leap-forward development for Panda Green Energy, but also the active response to the “Belt and Road” national initiative with the Tibet Autonomous Region Government and a gift as the commencement of "Belt and Road" to China and the United Nations. In the United Nations Office at Geneva, China initiated to build a community of shared future for mankind, and to make the world clean and beautiful by pursuing green and low-carbon development and win-win cooperation. Panda Green Energy firstly signed a strategic cooperation agreement with the United Nations Development Programme, practiced the world's first clean energy creative solutions - "Panda Solar Power Plant", and provide ecological development solutions package including wind, solar, water, and energy storage, to countries and areas along the “Belt and Road” routes. All the facts comes from the Group’s commitment to the " Belt and Road, Panda Be the First" concept, to output clean, high quality, environmentally friendly green power, and to lay a solid green energy foundation for other industries practice of "Belt and Road".

The effect of the Paris Agreement served as a milestone in the global climate governance history. In the future, humans will achieve green, low-carbon, recycling and sustainable production and lifestyles. China will steadily promote the sustainable development agenda in 2030 through "Belt and Road", continuously expand production development, affluent life, and ecological soundness civilization development path. "Belt and Road" is not only China’s initiative but also an international consensus. In recent years, the relevant resolutions or documents from the United Nations General Assembly, the Security Council, APEC, ASEM, and the Greater Mekong Sub-Basin Cooperation have been incorporated into or embodied in the "Belt and Road" construction. "Belt and Road" has become an important career in which different parties are actively participated, and a new opportunity for enhancing people’s welfare. Through integrating the global resources, Panda Green Energy has become the "Belt and Road" flagship resource platform. In the future, Panda Green Energy will cooperate with the United Nations and governments, apply the common green concept and action plan in all countries and head to the clean energy new era, to make clean energy benefit the world, to provide continuous power to the Earth development, and to let the green energy shining all along. Let panda’s smile travel around the world.


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