On December 29, 2023, China Power Construction's clean energy infrastructure REITs were approved by the China Securities Regulatory Commission and the Shanghai Stock Exchange, becoming the first publicly offered REITs project approved in the national hydropower industry, Sichuan Province, and ethnic minority areas. China Power Construction became the seventh central enterprise to be approved for publicly offered REITs projects.
Through the asset listing platform of publicly offered REITs, China Electric Power Construction can open up a channel for asset revitalization, use the recovered funds to invest in new project construction, and build an investment and financing cycle of "investment construction operation effective revitalization". This is an innovative asset management method that deeply implements the group's "all assets can be operated" concept, combines revitalizing existing assets, optimizing capital structure, and reducing leverage and liabilities.
The underlying asset of this public REITs project is the Wuyiqiao Hydropower Station held by Electric Power Construction and Hydropower Development Company. The project is located in Garze Tibetan Autonomous Prefecture, Sichuan Province, with an installed capacity of 137000 kilowatts.
The approval of the project is the result of the joint cooperation between the investment and operation platform and the financial platform. It is a successful practice of China Power Construction to deepen the work of all factor asset management, continuously improve operational efficiency and development quality, and achieve the integration of production and finance. Electric Power Construction Fund Company serves as the project lead coordinator, responsible for leading the organization and promotion of the issuance of public REITs projects and related work. Electric Power Construction and Hydropower Development Company is the original equity holder and operational management coordinator of public REITs, responsible for the overall operational management of public REITs after their listing.