Panda Green Energy’s "Top Runner" Project in Huainan, Anhui Successfully Generated Power after Grid Connection

(Hong Kong, December 29, 2017) The world's leading eco-development solutions provider——Panda Green Energy Group Limited (00686.HK, "Panda Green Energy") is pleased to announce that its 100MW floating solar power plant project in coal mining subsidence area in Huainan, Anhui Province successfully generated power after grid connection.

The project is located in Xinji Town, Fengtai County, Huainan City, Anhui Province. It was constructed on the basis of making full use of the characteristics of coal mining subsidence area and abandoned water area. The project has a total investment of about 1 billion RMB. After the project is completed, it is estimated that the average available annual electricity generation hours is 1227 hours, and the annual electricity generation volume is about 110 million KWh of clean power, which is equivalent to saving 34,000 tons of standard coal per year or reducing carbon dioxide emissions of about 99,000 tons, which will significantly reduce the carbon footprint.

In the process of project construction, the grid of the original mining area and the local abandoned water area are fully utilized. Taking into consideration the technical requirements of "Top Runner" Project, active measures are taken in aspects of organization and management, technological innovation, fishery and photovoltaic power plant combination and comprehensive ecological control of subsidence areas. The completion of this project is conducive to the comprehensive management of coal mining subsidence area and the transformation of traditional industries in the northern and southern areas of Huai River. It effectively solves the problem of subsidence in pavements of coal mining area and fly ash secondary pollution, and is a good use of coal mining subsidence area.

Panda Green Energy, the navigator in global new energy industry, has always been taking innovation and sustainability into enterprise business operations. As the Group's first floating photovoltaic power plant, the "Top Runner" project of 100MW around northern and southern areas of Huai River, Anhui has the advantages of reducing land occupation, saving water and water surface evaporation and inhibiting the algae breeding compared with traditional photovoltaic power plants. It can be a demonstration for the construction of large-scale photovoltaic power plants use water surface in the central and eastern regions of China.

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