The reporter learned from China export and Credit Insurance Corporation (hereinafter referred to as “China SINOSURE”) on April 12 that since 2021, the total insured amount of green projects underwritten by China SINOSURE project insurance business is about 7.7 billion US dollars, and the number of projects exceeds 150.
In terms of supporting photovoltaic products, SINOSURE has underwritten the export of photovoltaic products under trade insurance since 2005. So far, SINOSURE has supported the export of goods with a value of more than 130 billion US dollars in China’s photovoltaic industry, covering more than 40% of the overall export amount of China’s main photovoltaic products (modules and cells); A total of 286 photovoltaic export enterprises in China have been supported to achieve full coverage of industry leading enterprises; It has supported Chinese photovoltaic enterprises to conduct transactions with 19000 foreign buyers and paid compensation of nearly 370 million US dollars, which strongly supports the independent brand of China’s photovoltaic industry to “go global”.
Recently, China SINOSURE successfully issued the development performance guarantee and local component performance guarantee for the Saudi 700MW photovoltaic power station project invested by the State Power Investment Group upper Yellow River Hydropower Development Co., Ltd., marking the official launch of the project and entering the stage of investment, financing and construction. The project is an important part of the “Saudi Arabia 2030 vision”. SINOSURE has provided it with “one-stop” risk management, financing and consulting solutions, including overseas investment insurance, performance guarantee, internal insurance and external loan, overseas project risk assessment report and so on.
The project is the epitome of SINOSURE’s green finance to help achieve the “double carbon” goal. Since China announced the “double carbon” goal, SINOSURE has accelerated the practice of green finance innovation, focused on increasing support for green industries, and promoted green development with green finance.
“To achieve the goal of ‘double carbon’, export credit insurance can play an important role.” The relevant person in charge of China SINOSURE said that as the world’s leading export credit insurance institution with business scale, China SINOSURE will continue to explore green financial innovation, continue to promote the deep integration of green finance and green industry, and make greater contributions to the realization of the “double carbon” goal.
