China Development Bank’s New Solar Energy Leasing Deal - TipRanks
China Development Bank’s New Solar Energy Leasing Deal - TipRanks.com
China Development Bank Financial Leasing Co Ltd Class H ( HK:1606) has released an update.
China Development Bank Financial Leasing Co., Ltd. has announced a finance lease transaction with Hebei Hongmeng No.2 Photovoltaic Co., Ltd., where assets worth RMB400,000,000 were purchased and will be leased back over a period of 216 months. This transaction, along with a previous similar deal, has been aggregated for classification under the Listing Rules, and while it exceeds the 5% ratio, it remains below 25%, requiring no shareholder approval. These assets consist of solar power generation equipment, emphasizing the company’s involvement in sustainable energy solutions.
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Related Knowledge Center: ENERGY BASICS: hydropower
Hydropower — electricity generated by turbines capturing energy from moving water — was for many years the primary contributor of renewable energy to the U.S. electricity grid. Its growth was rapid into the 1970s, and since then has offered a stable supply of power, while a declining share of all generation. For many years, hydropower was seen as clean energy and an unalloyed good, but a greater understanding of the impact of dams on ecosystems and wildlife has led to the removal of some dams. As of 2019, hydropower trails wind as a renewable source of power generation.