China Three Gorges issues $2.98b of green bonds

The proceeds will be used to finance the construction of large hydropower projects.

State-owned power firm China Three Gorges Corporation (CTG) has issued $2.98b (RMB20b) green exchangeable bonds, according to an announcement by the China Electricity Council (CEC).

It is said to be the first and largest green exchangeable bond in China's capital markets. The bond issuance aims to maintain and increase the value of state-owned assets by revitalising the stock assets.

The price of the bond was reportedly set on 3 April, and the proceeds were wired to its bank account on 11 April.

The proceeds will be used to finance the construction of large hydropower projects. This is the first time that the CTG used a financial instrument with a combo of debt and stock.

“The issuance was in line with the call by the top state-owned assets regulator Assets Supervision and Administration Commission to reduce corporate leverage and debt, and is also a move to develop the green finance advocated by the CPC Central Committee and the State Council,” CEC said.

Also Read

Juniper Green Energy's 1st wind power project in Gujarat begins operation

India's RE installations surge to record high in March 2024

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit