China Energy boosts investment in European green power market

As a global energy investment company, China Energy Investment Corporation, or CHN Energy, has long been committed to providing clean, green and sustainable energy to society. Other than contributing to economic and social development in China, the company is increasing its investments in European markets.

So far it has invested in the green and clean wind power industry in Greece, which is an active participant in the Belt and Road Initiative.

In 2018, CHN Energy registered Europe Renewable Energy Company in Athens, Greece, which is wholly owned by the company's subsidiary Guohua Energy Investment. The new company invested in four wind farms in northern Greece, which were its first investment project in Europe.

According to the company, the project can meet the annual electricity demands of 30,000 Greek households. About 160,000 metric tons of carbon dioxide emissions can be reduced every year, equivalent to planting 360,000 trees annually.

In addition, Europe Renewable Energy has undertaken corporate social responsibility activities in recent years. It has worked on vegetation restoration, dam maintenance and forest fire prevention, ensuring the safe operation of wind farms while protecting the local environment.

Amid the COVID-19 outbreaks in 2020, the company helped secure medical gloves, masks and protective clothing worth 1 million yuan ($149,790) in a short space of time, donating them to local partners, hospitals and schools. In 2021, the company provided financial support to local elementary schools to buy long-distance learning equipment.

Each year, the company donates 2 percent of its revenue to the local government for infrastructure development and gives 1 percent of its revenue to local villagers to help them pay their electricity bills.

One of the company's top executives said that the high-standard, sustainable, people-friendly and high-quality green development proposed by CHN Energy centers on Greece and will reach out to neighboring countries. Meanwhile, the company will carry out more activities with a focus on donations, environmental protection and cultural exchanges.

CHN Energy was formally established in 2017 as a result of the merger of electricity producer China Guodian Corporation and coal company Shenhua Group, both Fortune Global 500 companies. Its businesses cover coal, thermal power, wind power, transportation and the chemicals industry with branches across China and 10 countries including Australia, South Africa and Greece. Among Fortune Global 500 companies in 2021, it ranked 101st.

To date, its investment projects have enjoyed great performance. About 307,800 kilowatts of wind power generated in Tasmania, Australia, is in stable operation. Another wind power project in South Africa has been hailed as a model of energy collaboration among the BRICS countries of Brazil, Russia, India, China and South Africa. Meanwhile, a cross-border railroad project in China and Mongolia is scheduled to start this year.

Guohua Energy Investment specializes in the development and operation of clean energy projects involving wind power, photovoltaic electricity, hydrogen energy, building-integrated photovoltaics, or BIPV, integrated smart energy and investment. The 70-Megapascal Pressure Unit integrated mobile hydrogen refueling station, which was independently developed by the company, is the first of its kind in China to meet national standards and receive a safety certification.

As a front-runner in research and development, Guohua Energy has set up the world's first and the largest BIPV laboratory. It has worked together with Electricite de France on 500,000 kW of offshore wind power in Dongtai, Jiangsu province. To make sure the power supply remained stable, the company pioneered mono pile foundation techniques for the overall installation of wind turbines. The successful attempt filled the technology gap in offshore wind power lifts and was an important step toward promoting deep-sea wind power projects, according to the company.

yinruowei@chinadaily.com.cn