Study On The Motivation And Effect Of China Energy Saving Wind Power Co.Ltd Issuing Green Bonds

Under the pressure of resource scarcity and high-speed development of economy,the world low carbon clean energy utilization consensus is increasing.Wind power,a kind of clean renewable energy,having played a more and more important role in the stage of energy transition in our country.So wind power industry is paid much attention by many enterprises.However,the wind power industry has a large demand for low-cost and longterm stable capital.On the one hand,the construction of wind power factory has the features of the longer building cycle and greatly capital input amount in earlier stage.On the other hand,wind power enterprises are taking advantage of the rapid momentum of the industry to gradually Scale up their own wind power project construction,which undoubtedly increases the funding gap.As a financing tool with green attributes,green bond not only has the characteristics of flexible maturity and low cost,but also has the characteristics of fast approval process,which provide a new financing channel for the wind power industry and can effectively solve the fund needs.In the context of pursuing green economy and advocating energy conservation and emission reduction,this article deeply studies the topics of the motivations issuing green bonds and the effect after issuing green bonds,which is of great significance to how to use green financial tools to realize the energy transformation in our country.As the only listed company mainly engaged in wind power operation in the domestic capital market,China Energy Saving Wind Power Co.LTD(stock code: 601016)focuses on the development,construction and operation of wind power projects.That is why it is typical to take China Energy Saving Wind Power Co.LTD as the research object in this paper.This paper firstly introduces the basic information of China Energy Saving Wind Power Co.LTD and the industry situation,the issuance process and basic information of green bonds;Secondly,the motivation of issuing green bonds is analyzed from the inside and outside of the company.Furthermore,the risk of e China Energy Saving Wind Power Co.LTD issuing electric green bond is analyzed from three aspects of credit risk,interest rate risk and green project risk.Then,from the perspective of financing and green bond support to the company,the market effect,capital structure effect,financing cost effect and project operation benefit brought by issuing green bond are analyzed.At the same time,the successful experience and shortcomings of issuing green bonds for China Energy Saving Wind Power Co.LTD are deeply explored.Finally,the implications of this paper are as follows:For companies: choose a reasonable financing method based on their own circumstances;Select the term of the green bond according to the project cycle and set the interest rate terms reasonably;Pay attention to national policies and seize development opportunities;Strengthen the disclosure of green bond information;Actively carry out third-party certification of green bonds.For policymakers: perfect information disclosure system and standardize market order;strengthen the third-party green certification evaluation system to ensure green attributes;Fully implement tax preferential policies to promote the process of green debt.