05.15.15
The Energy Department’s National Renewable Energy Laboratory (NREL) and the China PV Investment and Finance Alliance (CPVFA) have formed a collaboration with the goal of opening wide-scale and diverse sources of investment for solar photovoltaic (PV) asset development in China.
NREL is advising CPVFA based on the work of the NREL-convened Solar Access to Public Capital (SAPC) working group. The collaboration is part of the U.S.-China Renewable Energy Partnership, which is one of seven clean energy programs announced by presidents Obama and Hu in 2009. It also provides a mechanism to facilitate investments necessary to reduce future CO2 emissions as agreed to by both countries under the November 2014 Joint Announcement on Climate Change and Clean Energy Cooperation.
NREL will advise CPVFA in areas such as documentation standardization, data availability and consistency in asset deployment and operations and maintenance using the SAPC working group as a model. SAPC is dedicated to opening low-cost capital market investment via securitization of project cash flows and other innovative financial vehicles.
CPVFA is organized by the Chinese Renewable Energy Industries Association (CREIA) with support from The Energy Foundation, China’s National Energy Administration, and the China Banking Regulatory Commission.
“The collaboration between China and the U.S. and the cooperation between PV and finance industries will not only greatly accelerate the adoption and use of PV as an important means to reduce CO2 emissions, but also broaden the space for Chinese financial innovation,” said Megan Tang, vice secretary-general of CREIA and the secretary-general of CPVFA.
NREL is advising CPVFA based on the work of the NREL-convened Solar Access to Public Capital (SAPC) working group. The collaboration is part of the U.S.-China Renewable Energy Partnership, which is one of seven clean energy programs announced by presidents Obama and Hu in 2009. It also provides a mechanism to facilitate investments necessary to reduce future CO2 emissions as agreed to by both countries under the November 2014 Joint Announcement on Climate Change and Clean Energy Cooperation.
NREL will advise CPVFA in areas such as documentation standardization, data availability and consistency in asset deployment and operations and maintenance using the SAPC working group as a model. SAPC is dedicated to opening low-cost capital market investment via securitization of project cash flows and other innovative financial vehicles.
CPVFA is organized by the Chinese Renewable Energy Industries Association (CREIA) with support from The Energy Foundation, China’s National Energy Administration, and the China Banking Regulatory Commission.
“The collaboration between China and the U.S. and the cooperation between PV and finance industries will not only greatly accelerate the adoption and use of PV as an important means to reduce CO2 emissions, but also broaden the space for Chinese financial innovation,” said Megan Tang, vice secretary-general of CREIA and the secretary-general of CPVFA.