Wind tur­bine man­u­fac­turer gets fi­nan­cial back­ing

China Daily (Canada) - - BUSINESS - By JIANG XUEQING in Wuxi, Jiangsu

En­vi­sion En­ergy (Jiangsu) Co, a pri­vate wind power gen­er­a­tion equip­ment man­u­fac­turer and dis­trib­u­tor, is ramp­ing up ef­forts to bring green en­ergy projects to China’s in­land cities and to of­fer dig­i­tal­ized so­lu­tions to wind farm op­er­a­tions, with the sup­port of China CITIC Bank Corp.

For safety, wind farm own­ers set higher tech­ni­cal re­quire­ments on tur­bines in­stalled in in­land ar­eas that record much slower wind speeds, com­pared to those spin­ning in moun­tain ar­eas.

Since the end of 2017, En­vi­sion En­ergy has over­seen a pi­lot pro­ject, op­er­at­ing sev­eral 2-megawatt and 3-megawatt wind tur­bines in Jiangyin, Jiangsu prov­ince, where the av­er­age wind speed is only 5.92 me­ters per sec­ond at a height of 140 me­ters, ac­cord­ing to data col­lected over the last 20 years.

At this height, the tur­bine tow­ers dwarf most tow­ers in China, which are typ­i­cally 80 to 90 me­ters high. The uti­liza­tion time of wind power is around 2,500 hours a year for each tur­bine.

Un­like wind farms sit­u­ated on plateaus or moun­tains, dis­trib­uted wind tur­bines are in­stalled in ar­eas that have a huge power de­mand. That al­lows the elec­tric­ity to be used lo­cally, rather than trans­mit­ted over long dis­tances — re­duc­ing nat­u­ral power loss and in­creas­ing ef­fi­ciency.

“The de­vel­op­ment of dis­trib­uted wind power gen­er­a­tion sys­tems in China truly started this year,” said Le Xi­uqing, di­rec­tor of in­vest­ment and fi­nanc­ing at En­vi­sion En­ergy. “Com­pared with cen­tral­ized wind power plants, the mar­ket prospects for dis­trib­uted wind power projects are much broader.”

The com­pany has de­vel­oped the tech­nol­ogy it­self, al­low­ing elec­tric­ity gen­er­ated by its wind tur­bines to con­nect to the grid with no need to step up the volt­age level through a power con­verter.

En­vi­sion En­ergy is also help­ing to dig­i­tal­ize the in­dus­try. It has de­vel­oped a plat­form, com­pat­i­ble with most tur­bines, which dis­plays real-time sta­tuses for the equip­ment. Us­ing this plat­form, the com­pany can help wind farm de­vel­op­ers to make pre­cise in­vest­ment so­lu­tions at the ini­tial stage of de­vel­op­ment, ac­cord­ing to Jiang Min, of­fice and gov­ern­ment af­fairs man­ager at En­vi­sion En­ergy.

The com­pany also helps other wind tur­bine man­u­fac­tur­ers to eval­u­ate the per­for­mance of their tur­bines, and to make ad­just­ments to their op­er­a­tions and main­te­nance prac­tices ac­cord­ingly.

In 2010, En­vi­sion En­ergy still had a small out­put, when its sam­ple wind tur­bines came off the pro­duc­tion line. China CITIC Bank, how­ever, took an op­ti­mistic view of the clean en­ergy sec­tor, and granted a 50 mil­lion yuan ($7.3 mil­lion) credit line to the com­pany.

The bank also helped the com­pany to be­come a qual­i­fied con­trac­tor as it bid for wind en­ergy projects. CITIC of­fered per­for­mance guar­an­tees to the con­trac­tor, back­ing the full and due per­for­mance of the con­tract, ac­cord­ing to the plans and spec­i­fi­ca­tions.

Their co­op­er­a­tion later ex­panded into many other fields in­clud­ing pro­ject fi­nance and off­shore bond is­suance. The com­pany has also ben­e­fited from leas­ing, in­sur­ance and as­set se­cu­ri­ti­za­tion ser­vices, which are pro­vided by fi­nan­cial in­sti­tu­tions re­lated to CITIC Bank.

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