Recently, CIB issued a 200 million RMB loan to Qingdao West Coast Municipal New Energy Heating Co., Ltd. to support the Qingdao Guzhenkou Seawater Source No.1 Energy Station project. This loan represents CIB’s first venture into financing seawater source energy supply projects and is a crucial step in the bank’s exploration of blue finance and the expansion of marine energy product service systems.
The Qingdao Guzhenkou Seawater Source No.1 Energy Station project is currently the largest hot and cold energy center in China. It employs advanced, clean seawater source heat pump technology to “extract” energy from seawater, supplying power to residents, schools, hospitals, and other institutions. The project stores energy during low electricity demand at night and releases it during peak daytime hours. Given the large investment and long payback period of the project, CIB has provided a comprehensive 15-year “financing + intellectual support” financial service solution. This support helps the project deliver clean and efficient energy, reduce pollutant emissions, minimize air pollution, and enhance air quality.
Supporting Marine Resource Conservation and Utilization, as well as improving the green ecological environment, is critical to fostering the creation of a Beautiful China. As a pioneer in Green Banking in China, CIB continually innovates financial products, expands and enhances its financial services, and increases financial support for environmental protection, energy conservation and emission reduction, clean energy, and the marine economy, excelling in the major area of “Green Finance”. To date, CIB’s balance of green finance financing exceeds 2 trillion RMB.