(Hong Kong, 7 July 2017) The world's leading eco-development solutions provider, Panda Green Energy Group Limited (00686.HK, “Panda Green Energy”, formerly known as United Photovoltaics Group Limited) is pleased to announce that the electricity generation volume of the second quarter of 2017 has achieved 560 million KWh and the accumulated electricity generation volume of the first half of 2017 has achieved 1 billion KWh, representing a substantial YoY increase of 63.7% and 63.9% respectively.
In the second quarter, the first phase (50 MWh) of the world’s first Panda Power Plant under the cooperation of the Company and UNDP was officially connected to the grid on 29 June 2017 and is currently in testing phase. This is the starting point of the Panda Green Energy’s global layout on Panda Power Plant project, which is of great significance to the global green energy application, green concept communication and energy transformation. In addition, a 3 MWh rooftop distributed solar project located at the Ningbo Distribution Center under China Merchants Logistics was also successfully connected to the grid in the second quarter.
With the increasing power generation, the environmental benefits brought by Panda Green Energy have also become prominent. The 1 billion kWh solar power generation can meet the demand of a full year electricity use of nearly 560,000 households, which is equivalent to saving 330,000 tons of standard coal or reducing 860,000 tons of CO2 emission or emitting 501 tons of smoke and dust; meanwhile, also approach to reduce of 8,316 tons of SO2 emission or 7,715 tons of nitrogen oxide emission, equivalent to planting 47 million trees.
Details of the aggregate volume of electricity generation in Q2 2017