Wuling Power Completes Its First Carbon Transaction and Gains RMB 8.42 Million

Recently, Wuling Power Generation Company received the settlement of Dongping Hydropower Project for verified emission reductions (VER). The VER accounting cycle is from October 1, 2012 to March 31, 2017, with a total of 1,052,000 tons of emission reductions, a transaction price of RMB 8 yuan/ton and a sales revenue of RMB 8.42 million.

VER is a public-good, self-initiated and certifiable emission reduction credit in addition to the Clean Development Mechanism (CDM) introduced in the Kyoto Protocol. Compared with the CDM, VER can reduce part of the approval process, save part of the cost, time and effort, improve the success rate of development and reduce the risk of development.

This market exploration is an important attempt to realize the environmental value of clean energy. The current domestic and international carbon market and green power market are gradually growing up. As we are moving closer to the carbon peaking and carbon neutrality goals, the market will create more valuable opportunities. Wuling Power Generation Company will continue to pay attention to the carbon market and green power market at home and abroad, dig deeper into the environmental value of clean energy, and foster new profit growth points of clean energy assets.