Thursday, January 27 2022 Sign In   |    Register
 

News Quick Search


 

News


Front Page
Power News
Gas News
Today's News
Yesterday's News
Week of Jan 24
Week of Jan 17
Week of Jan 10
Week of Jan 03
Week of Dec 27
By Topic
By News Partner
News Customization
Feedback

 

Pro Plus(+)


Add on products to your professional subscription.
  • Energy Archive News
  •  



    Home > News > Gas News > News Article

    Share by Email E-mail Printer Friendly Print

    China Gas Enters into Cooperation Agreement with Three Gorges Investment


    November 29, 2021 - Gulf Oil & Gas

     

      China Gas Holdings Limited (“China Gas”), a leading natural gas operator in China, announced that it has entered into a strategic cooperation agreement (“Agreement”) with the Yangtze Three Gorges Investment Management Co., Ltd. (‘‘Three Gorges Investment’’), a subsidiary under China’s biggest clean energy group, China Three Gorges Corporation. Both parties will join forces in five major business areas to develop new energy systems with wind power, solar energy, hydro-power and hydrogen as the core, to lead the development of an international and standardized carbon market system for China as the country strives to adopt “Carbon Peak, Carbon Neutrality” as its development blueprint.

      After more than 20 years of continuous, high-quality and rapid development, China Three Gorges Group has become the largest enterprise engaging in hydro-power development and operation in the world and the biggest clean energy group in China, with an asset size of over one billion dollars. Under the national Carbon Peaking, Carbon Neutralitypolicy, China is witnessing a major transformation in its energy sector and economic structure. The strategic cooperation between China Gas and Three Gorges Investment will allow the Group to develop new energy business such as wind power, solar energy, hydro-power and hydrogen via an asset-light model, thereby creating a “dualcarbon ecosystem” unique to China Gas by leveraging the Group’s nation-wide network advantage and massive user base. With the new energy industry turn into a billion-dollar market, the Agreement will create new growth drivers for the Group in the long run.

      Based on the Agreement, China Gas and Three Gorges Investment will cooperate in five major business areas ranging from collaborating in green energy project investments, building a new type of power system that adopts integrated renewable energy, promoting green cities and the Carbon Peaking, Carbon Neutrality digital platform, facilitating zero-carbon development planning including the "Shiyan Zero-Carbon Automobile City”, and promote the building of the zero-carbon intelligent industrial ecosystem.

      A. To subscribe for the national green development investment fund China Gas intends to subscribe for the "Yangtze River Green Development Investment Fund", a national industrial investment fund established by Three Gorges Investment. The investment fields of the fund mainly include: "environmental protection, clean energy, other growth investment opportunities in line with the concept of green development, strategic emerging industries encouraged by the tate; mixed reform projects of tate-owned enterprises in line with the concept of green development". Through fund cooperation, both parties will establish channels for acquiring highquality projects, seize investment opportunities, and divest through market-oriented methods such as asset securitization to realize reasonable investment gain.

      B. Complementing advantages by jointly building a new type of power system that mainly adopts distributed renewable energy, and to promote the implementation of zero-carbon smart city projects With project companies located nationwide, China Gas has built up an extensive network of relationships with local governments and enterprises. With the Group’s asset-light operation model of project development + EPC construction + operation and maintenance, it integrates the advantages of Three Gorges Investment in capital, technology, industry experience, and maintenance with assets held by Three Gorges Investment. At the same time, by also leveraging the industrial and commercial distributed photovoltaic facilities, rural household photovoltaic installations, building integrated photovoltaic (BIPV) and other photovoltaic power generation and new energy applications combined as the breakthrough point, both parties will simultaneously promote the implementation of zero-carbon smart city projects, and jointly explore green carbon business mechanisms and extend value-added pilot services. Relying on the layout of distributed renewable energy power stations, both parties will jointly participate in the planning, investment, construction and operation of the incremental distribution network projects in target cities, promote the pilot demonstration of integrated photovoltaic storage and charging projects, and plan the construction of power storage facilities based on demand to provide clients with professional power operation and maintenance. At the same time, with the Company's wide end user base and rich upstream green power resources in the Three Gorges of the Yangtze River, both parties, as upstream and downstream companies, will participate in the electricity sales market transactions in target cities, prioritize the use of green power in core key industries, facilitate energy conservation and carbon reduction, and strive to create the green competitiveness of industrial cluster in the Yangtze River Economic Belt.

      C. Promoting the urban green integrated energy for household management to cooperate in building a low-carbon society Both parties will jointly research on and formulate green integrated energy management, low-carbon transformation development plans and action plans for target cities. In particular, it includes: Jointly building a digital management platform for Carbon Peaking, Carbon Neutrality goals of target cities, tapping the potential of energy-saving and allocating carbon indicators through quantitative analysis, simulating the development path of Carbon Peaking, Carbon Neutrality goal, exploring the potential value of green energy allocation, and providing a fundamental basis for the operation and pricing of the carbon trading market; Jointly participating in the construction of the green transportation system in target cities, strengthening the planning, construction and operation of charging and replacement facilities, meeting the demand for green energy use of power batteries, and creating a closed system for the use, circulation and recycling of batteries and internal metal resources to achieve the goals of carbon reduction and environmental protection; Jointly developing green integrated energy service projects for large-scale building complexes and residential communities in target cities, carrying out research and policy application of urban carbon footprint, and advocating zero-carbon communities.

      D. Selecting "Shiyan Zero-Carbon Automobile City (???????)" as the pilot project to empower the construction of zero-carbon automobile industrial park and to promote the introduction of industry standards for carbon emission reduction in the domestic automobile industry Both parties are proposed to introduce green hydro-power, invest in new energy projects such as photovoltaic, wind power, and source-network-load-storage integration by selecting "Shiyan ZeroCarbon Automobile City" as a cooperative demonstration project, to effectively coordinate hydropower resources, build intelligent incremental distribution network and enable the construction of zero-carbon automobile industrial park. Both parties will also strengthen the research on the carbon footprint accounting in the whole life cycle of automobile, the estimation and prediction of carbon emission space of automobile industry cluster, the international carbon trading mechanism of automobile industry chain, so as to promote the introduction of industry standards for carbon emission reduction in the domestic automobile industry, help the automobile industry in Hubei Province to become the source of original technologies of zero-carbon vehicles and the leader of industry green standards, and consolidate the important position of both parties in the implementation of the national Carbon Peaking, Carbon Neutrality strategy.

      E. Jointly exploring the development and utilization of hydrogen energy to provide clean energy solutions for Yangtze River protection Both parties will jointly participate in the technical research, commercial application and project development of the whole hydrogen energy industry chain and contribute towards the clean energy solutions for Yangtze River protection. Among which, China Gas will focus on the storage, transportation and application of hydrogen energy, in view of its gas station terminals across the country and its nationwide network for gas energy compression, liquefaction, storage and transportation, while Three Gorges Investment will make use of its abundant generating capacity in green power such as hydropower, focusing on the generation and supply of hydrogen energy. Both parties will fully leverage their respective advantages in resources and technology to facilitate the national Carbon Peaking, Carbon Neutrality policy.

    TOP

    Other Articles - International


    TOP

       Home  -  Feedback  -  Contact Us  -  Safe Sender  -  About Energy Central   
    Copyright © 1996-2022 by CyberTech, Inc. All rights reserved.
    Energy Central® and Energy Central Professional® are registered trademarks of CyberTech, Incorporated. Data and information is provided for informational purposes only, and is not intended for trading purposes. CyberTech does not warrant that the information or services of Energy Central will meet any specific requirements; nor will it be error free or uninterrupted; nor shall CyberTech be liable for any indirect, incidental or consequential damages (including lost data, information or profits) sustained or incurred in connection with the use of, operation of, or inability to use Energy Central. Other terms of use may apply. Membership information is confidential and subject to our privacy agreement.