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Financing greater energy efficiency in China

GreenStream Network Plc
As part of its commitment to providing new investment opportunities and other services in the carbon and renewable energy field, GreenStream Network has developed a set of innovative financing tools specifically designed to promote energy efficiency and carbon abatement projects in China.

China’s 12th five-year plan has set ambitious goals for reducing the country’s energy intensity and saving energy nationwide. Given the scale of the Chinese economy today, these goals – as and when they are achieved – will have significant environmental benefits. The increase in energy efficiency envisaged by the plan represents a reduction in greenhouse gas emissions (GHG) equivalent to 864 million tonnes of CO2e – 13 times Finland’s annual GHG emissions.

Many potential projects lack the financing, expertise, and best-in-class technologies needed, however.

Nordic know-how and Chinese ‘guanxi’

Building on its proven expertise in delivering GHG abatement projects in China and its extensive contact network in China – and utilising the ESCO business model – GreenStream has developed a number of financing products designed to enable Chinese projects to make use of worldclass Nordic technology to meet their energy efficiency goals. These include GreenStream- Liner, an initiative aimed at increasing the energy efficiency of thermal power plants.

GreenStream’s activities in China are coordinated through a joint venture with the Juno Capital Group. The partnership combines local experience and relationships with GreenStream’s world-leading expertise, and leverages a strong network of key industrial, financial, and regulatory stakeholders in China.

GreenStream has developed a number of financing products designed to give Chinese projects access to world-class Nordic technology and help the country meet its ambitious energy efficiency goals.

GreenStream China has extensive experience in providing climate services to stateowned and other major energy companies throughout China, and has a strong Beijing- based team of experts familiar with working with technology suppliers and project owners to maximise energy efficiency opportunities.

The success of GreenStream China’s track record can be judged by the fact that it is currently involved in over 60 Chinese emission reduction projects representing an underlying investment of approximately €5 billion. GreenStream’s approach of linking Nordic know-how with ‘guanxi’ – the basic dynamic in the personalised networks of influence that lies at the heart of Chinese society – has also been recognised by the 2012 European Business Awards, in which GreenStream was selected as a finalist in the International Co-Operation category.

 

GreenStreamLiner

Working with Fortum Heat and Power, GreenStream China has developed the GreenStreamLiner financing product aimed at increasing the energy efficiency of China’s thermal power plants. The concept covers:

  • Energy audits to identify optimal, cost-efficient solutions
  • Financing for agreed energy efficiency investments
  • Access to leading Nordic technology suppliers
  • Assistance with monitoring and verifying energy savings, and
  • Training and assistance with maximising governmental support.

GreenStream China will share in the benefits from the energy savings made and help ensure that investments are implemented in an efficient and timely way.

> Harri Roto & Pirita Mikkanen
(Published in HighTech Finland 2013)