On February 27, China Energy Construction issued the Prospectus for China Energy Construction Co., Ltd. to Issue A-Shares to Specific Targets in 2023 (Registration Draft).
The announcement shows that the total amount of funds raised in this issue (including issuance fees) does not exceed 9 billion yuan (including 9 billion yuan). The fund raised is intended to be invested in the demonstration project of "light (heat) storage" multi-energy complementary integrated green power in Hami, the photothermal + photovoltaic integration project of Zhejiang Thermal Power Construction Co., Ltd. of China Energy Construction Group, Hubei Yingcheng 300 MW Compressed Air Energy Storage Power Station Demonstration Project and Uzbekistan Bashi and Zankerdi Wind Power Project. The amount and investment direction of the
raised funds are shown in the following table:
Zhongneng Hami "Light (Heat) Storage" Multi-energy Complementary Integrated Green Power Demonstration Project, China Energy Construction Group Zhejiang Thermal Power Construction Co., Ltd. Photothermal + Photovoltaic Integration Project, Hubei Yingcheng 300MW Compressed Air Energy Storage Power Station Demonstration Project are all new energy investment and operation projects. Bashi and Zankeldi wind power projects in Uzbekistan are overseas new energy project contracting projects. Details of the
project are as follows:
I. Zhongnengjian Hami "Solar (Thermal) Storage" Multi-energy Complementary Integrated Green Power Demonstration Project
This project is a solar thermal, photovoltaic and multi-energy complementary project of the Company, and the main business development direction involved is solar thermal power generation, photovoltaic power generation and their integration.
Project overview:
The total investment of this project is RMB 8,082.37 million yuan. The construction period and the operation period are 28 years in total, of which the construction period is 2.5 years and the operation period is 25.5 years. It is estimated that the project will contribute a total business income of RMB 16,937.67 million yuan in the future. During the operation period, the average annual income is 651,448,800 yuan, the estimated net profit is 2,458,950 yuan, and the internal rate of return on investment of the project principal is 7.03%.
Relying on the vast desert Gobi land and abundant solar energy resources in Hami City, through the rational allocation of new energy power generation such as thermal storage photothermal and photovoltaic (photovoltaic and thermal storage photothermal power generation are allocated at a scale of 9:1), give full play to the flexible regulation role of the power supply side, reduce the demand for regulation support of the large power grid, and improve the level of new energy consumption. The installed capacity of the PV project of the
Project is 1,350 MW, and the method of block confluence and centralized grid connection is adopted. The solar cell array of the 1,350 MW photovoltaic part of the Project consists of 432 3.125 MW sub-arrays, and each sub-array is composed of several solar cells connected in series and in parallel. Each 3.125 MW solar photovoltaic sub-array is a power generation subsystem, equipped with a 3.125 MW centralized box inverter. Solar Thermal + Photovoltaic Integration Project
of
China Energy Engineering Group Zhejiang Thermal Power Construction Co., Ltd. This project is a solar thermal, photovoltaic and multi-energy complementary project of the Company, and the main business development direction involved is solar thermal power generation, photovoltaic power generation and their integration.
Project overview:
The total investment of this project is RMB 6,111,582,800 yuan. The construction period and the operation period are 25 years in total, of which the construction period is 2.5 years and the operation period is 22.5 years. It is estimated that the project will contribute a total business income of RMB 12,449,530,000 yuan in the future. During the operation period, the average annual income is 478,836,900 yuan, the estimated net profit is 1,982,360,000 yuan, and the internal rate of return on investment of the project principal is 7%.
Relying on the abundant solar energy resources in Turpan City, through the rational allocation of new energy power generation such as thermal storage photothermal and photovoltaic (photovoltaic and thermal storage photothermal power generation are allocated at a scale of 9:1), give full play to the flexible regulation role of the power supply side, reduce the demand for regulation support of the large power grid, and improve the level of new energy consumption. The total installed capacity of the
project is planned to be 1GW. The project includes 900MW photovoltaic power generation project and 100MW solar thermal power generation and energy storage project. A new 220kV gathering station will be built, in which three 240MVA transformers will be set for the 650MW photovoltaic system and 100MW solar thermal access of the project. The gathering station will be connected to the 220kV side of Shanshan 750kV gathering station through a 220kV line. The other 250 MW PV capacity of the project is connected to the common 220 kV collection station constructed by the State Power Investment Corporation through the 35 kV collection line.
Hubei Yingcheng 300MW Compressed Air Energy Storage Power Station Demonstration Project
This project is an energy storage project of the Company, and the main business development direction involved is the new energy storage infrastructure supporting the new power system.
Project overview:
The total investment of this project is 1,837.22 million yuan. The construction period and operation period are 27 years in total, of which the construction period is 2 years and the operation period is 25 years. It is estimated that the project will contribute a total of 4,991.79 million yuan of business income (capacity electricity fee income) in the future. It is estimated that the net profit is RMB 910.5155 million and the internal rate of return on investment of the project principal is 6.50%.
The project is the first 300MW non-supplementary combustion compressed air energy storage project in the world, which utilizes the abundant salt cavern resources in Yunmeng and Yingcheng areas of Hubei Province to build the world's first, all-green, non-supplementary combustion, high-efficiency 300MW compressed air energy storage project. The compressed air energy storage generator set compresses air through an electric air compressor at night in the valley period of the power grid, and transmits the high-pressure compressed air to the abandoned salt cavern for storage through a pipeline; and the compressor stops running in the daytime, releases the compressed air from the salt cavern in the peak period of the power grid, and transmits the compressed air to the expander through the pipeline to do work, so as to drive the generator to generate electric energy and transmit the electric energy to the power grid.
4. Overview of Bashi and Zankerdi Wind Power Project
in Uzbekistan:
The total investment of this project is USD 997 million, equivalent to RMB 6.768 billion. The project is located 100 kilometers northeast and 180 kilometers northwest of Bukhara State, Uzbekistan. The total installed capacity of the project is 1GW, and the project mainly includes 158 6.5MW wind turbines, two 33KV/500KV booster stations and two 500KV overhead lines with a total length of about 290.5km. The total construction period of the project is 30.5 months. The owners of the project are ACWAPOWER BASH WIND LLC and ACWAPOWER DZHANKELDY WIND LLC.
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