Jiangxi Ganneng issues green bonds as clean coal unit begins operation

Jiangxi Ganneng Co., Ltd. has announced the public issuance of its 2025 Carbon Neutrality Green Technology Innovation Corporate Bonds (Tranche 1) to professional investors, with a total value not exceeding 300 million yuan. The bonds have a 3-year term with a fixed interest rate determined by an inquiry process within a range of 1.80%-2.80%. Concurrently, Jiangxi Ganneng announced the successful 168-hour full-load trial operation and commercial handover of Unit 1 of its Shanggao 2×1000MW clean coal power project, which is now in commercial operation.

The proceeds from the bond issuance will be used to replace 110 million yuan in self-funded expenditures on green projects, repay 110 million yuan in loans for green projects, and fund 80 million yuan for the construction and operation of green projects. These projects include several solar photovoltaic power stations and the Shanggao clean coal power plant. The successful operation of the first unit of the Shanggao project marks a significant step, with Unit 2 of the project also under construction.

These developments align with the company's strategic focus on expanding clean energy and reflect its robust financial performance, with operating revenue of 692,094.57 million yuan and net profit of 70,862.59 million yuan in 2024. The company's credit rating for the bonds is AA+sti, reflecting a strong capacity to meet debt obligations with low credit risk.