CPID (02380.HK): A Carbon Peaking and Carbon Neutrality Project

China Power International Development Limited (China Power or CPID, stock code: 02380.HK) kicked off a carbon peaking and carbon neutrality project for rural revitalization in Luannan County, Hebei Province, marking a new breakthrough in CPID’s green and low-carbon industrial layout in the Beijing-Tianjin-Hebei region and accelerating the construction of demonstration projects for regional rural revitalization.

The project consists of two parts: the 80 MW household distributed PV power generation in Luannan County and the beautiful village construction in Liying Village. The project is expected to generate about 2,500 GWh of electricity in 2025, save more than 30,000 tons of standard coal per year, and reduce sulfur dioxide, NOx and carbon dioxide emissions by more than 3,000 tons, 1,500 tons and 80,000 tons per year, respectively. The project will also drive the transformation of the local industrial structure and promote employment, with obvious economic, social and environmental benefits.

In December 2021, CPID, Tangshan Municipal Government and Luannan County Government signed a strategic cooperation agreement. According to the agreement, the three parties will carry out in-depth cooperation in clean energy project construction and rural revitalization on the principle of "complementary advantages, market orientation, and mutual benefits". The project is the first project kicked off by the three parties, and the good start for cooperation will lay a solid foundation for the future cooperation projects.