On December 18, the CICC–Beijing Energy International Energy Infrastructure Hold-Type Asset-Backed Security (hereinafter referred to as the “BEI Hold-Type ABS” or “the Project”), with China International Capital Corporation (CICC) acting as the plan manager, was successfully established. The issuance amounts to RMB 1.161 billion. The sponsor of the Project is Beijing Energy International Holding Co., Ltd. (Beijing Energy International, HKEX: 00686), through its key subsidiary BEI Energy Development (Beijing) Co., Ltd. 

The BEI Hold-Type ABS is the first inter-institutional REITs product in the market backed by a hybrid portfolio of wind and solar renewable energy projects, and the first off-balance-sheet inter-institutional REITs product issued by a Beijing municipal state-owned enterprise.

The Project adopts a single-tier structure, with underlying assets comprising wind farms and photovoltaic power stations located in Xinjiang, Shanxi, and Anhui, with a total installed capacity of 257.50 MW. Through this issuance, the company successfully achieved the off-balance-sheet revitalization of its existing power station assets, while expanding the asset allocation options available to market investors. The Project provides a replicable model for activating green and clean energy assets through capital market mechanisms, and represents another landmark product in advancing the innovation and development of green finance in China.

The successful issuance of the Project also marks a key milestone for the company in the securitization of green and clean energy assets. As the company’s first concrete initiative in off-balance-sheet asset disposal and light-asset operations, the Project breaks away from traditional financing approaches by realizing the true sale of power station assets, opening up a new pathway for bundled transactions and revitalization of renewable energy power stations. Building on the company’s previous issuances of public REITs and quasi-REITs, the Project is significant in further improving its asset securitization toolkit within the capital markets, while also serving as a strong example for the continued deepening of power asset securitization and light-asset operational practices in the future.