On October 17, CNOOC Power Investment Co., Ltd. (referred to as CNOOC Power Investment) and Tongwei New Energy Co., Ltd. (referred to as Tongwei New Energy) signed a long-term bilateral agreement on green power in Chengdu. This is the first time that CNOOC has signed a long-term green power agreement, marking CNOOC’s “pioneer and trial” in its green and low-carbon transformation.
In a broad sense, long-term power purchase agreements can generally refer to power purchase agreements signed with various types of power sources. In a narrow sense, they generally refer to green power purchase agreements with a long time span signed with wind power, photovoltaic and other new energy companies.
At the beginning of 2022, the National Development and Reform Commission issued the "Guiding Opinions on Accelerating the Construction of a National Unified Electricity Market System", which pointed out that it is necessary to "improve the adaptability of the electricity market to a high proportion of new energy sources" and "establish a system that is compatible with the characteristics of new energy sources." A medium- and long-term power trading mechanism will guide new energy sources to sign longer-term medium- and long-term contracts." Green power long-term power purchase agreement is a relatively economical green power trading method that can have a positive impact on the development of the new energy power generation industry. It will promote my country's green power consumption and achieve "carbon peak and carbon neutrality" 3060 Goal'" is of great significance.
In recent years, CNOOC has thoroughly implemented Xi Jinping’s Thoughts on Ecological Civilization, integrated “double carbon” work into the overall development situation, and guided by the “CNOOC “Carbon Peak and Carbon Neutral” Action Plan, Implement the green development leapfrog project and contribute "CNOOC's power" to the green and low-carbon transformation of my country's oil and gas industry. This cooperation with Tongwei New Energy also means that CNOOC will promote the development and growth of the private economy by deepening cooperation with private enterprises, gather strength on the road of low-carbon and green development, achieve complementary advantages, and enhance CNOOC's The competitiveness of the mid-stream and downstream industrial chains has formed a good situation of mutual integration and common development with partners.
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