Green and Sustainable Finance

In 2022, Towngas Smart Energy successfully issued a RMB 500 million 7-year green loan. In the first half of 2024, the Group further issued a RMB 500 million green loan. The respective loans will be used entirely for renewable energy businesses, such as the development of solar photovoltaic systems.

In 2023, Towngas Smart Energy successfully issued its first 1-year and 3-year Panda Bonds on the Chinese mainland, raising a total of RMB 1.5 billion with an average annual interest rate of 3.27%. Among them is the first sustainability-linked Panda Bond issued by a Hong Kong enterprise on the Chinese mainland. Market response was enthusiastic with an oversubscription of 1.6 times.

Today, the Group has implemented the development of nearly 130 zero-carbon smart industrial parks and developed renewable energy projects in 23 provincial regions. The business covers various integrated energy service areas, including photovoltaics, energy storage, battery charging and swapping, power trading, carbon trading, engineering services, and digitalisation.

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In 2022, Towngas Smart Energy became the first energy company to issue a sustainability-linked bond in Hong Kong, raising a total of US$200 million. This bond symbolises our vision of a smart energy business based on integration, digitalisation and decarbonisation. This bond symbolises our vision of a smart energy business based on integration, digitalisation and decarbonisation. The Bond is issued with reference to the Sustainability-Linked Financing Framework, which aligns with the Sustainability-Linked Bond Principles and Sustainability-Linked Loan Principles of ICMA.

For more details, please refer to the Sustainability-linked Financing Framework.

In 2023, The Hong Kong and China Gas Company Limited, the Group’s parent company, and IDG Capital jointly established the first Zero-carbon Technology Investment Fund on the Chinese mainland with the theme of “technology investment + scenario-based empowerment”. With 5 billion raised in the first phase, the fund primarily invested in zero-carbon technology-related fields such as solar energy, wind energy, powered battery, energy storage, smart grid, hydrogen energy, as well as carbon trading and management. Leveraging the Group’s diverse business scenarios, the fund will help investees speed up the development and application of their products and technologies, and continuously explore innovative zero-carbon technologies and solutions, facilitating energy conservation and emission reduction for industrial and commercial customers.