Chindata Group Participates in China’s First Green Power Transaction

Rhea-AI Summary

Chindata Group (Nasdaq: CD) participated in China's first nationwide green power transaction, procuring 100 million kWh, amounting to 1.26% of the total transaction volume of 7.935 billion kWh. This initiative is expected to reduce greenhouse gas emissions by about 94,000 tons of CO2. The company is focusing on enhancing its green power consumption ecosystem with initiatives like direct green power trading and renewable energy power plant development. In 2020, renewable energy accounted for 51% of its total power consumption, and its upcoming 150MW smart photovoltaic plant is projected to cut 212,000 tons of CO2 annually.

Positive

• Participation in China’s first green power transaction, procuring 100 million kWh.
• Anticipated reduction of 94,000 tons of CO2 emissions.
• 51% of total power consumption from renewable energy in 2020.
• Upcoming 150MW renewable energy plant expected to reduce emissions by 212,000 tons of CO2 annually.

Negative

• None.

BEIJING, Sept. 16, 2021 (GLOBE NEWSWIRE) -- Chindata Group (Nasdaq: CD), a leading carrier-neutral hyperscale data center solution provider in Asia-Pacific emerging markets, today announced that it has recently participated in China’s first nationwide green power transaction, and completed a procurement of 100 million kilowatt-hours (kWh). Such volume represents around 1.26% of the overall transaction and is expected to directly reduce greenhouse gas emissions by approximately 94,000 tons of carbon dioxide equivalent. According to public data, a total of 259 domestic Chinese entities participated in this green power transaction, with a total transaction volume of 7.935 billion kWh.

Following the announcement of China’s goals of reaching peak carbon emissions by 2030 and carbon neutrality by 2060, a series of policies were introduced, with the pilot schemes for national carbon emissions trading and national green power trading being one of them. Such has offered additional alternatives to the green energy consumption ecosystem and make available more opportunities for Chindata Group as a digital infrastructure company.

Chindata Group has been constantly exploring and has identified four major initiatives for the strategic development of its green power consumption ecosystem and will continue to implement strategic upgrades. These initiatives include direct green power trading, innovative regional green power consumption mechanisms, development of renewable energy power stations and development of integrated power Generation-Grid-Load-Storage projects. Together these are expected to set examples for the paths of green electricity consumption for digital infrastructure companies in China, while also further strengthening the sustainability initiatives of Chindata Group.

For the exploration on the innovative regional green power consumption mechanisms, Chindata Group has made accessibility to green energy one of its core site selection principles for its hyperscale data center infrastructure clusters. Zhangjiakou city in Hebei Province is China’s first National Renewable Energy Demonstration Zone, and has been the home base for Chindata Group’s first hyperscale data center cluster in the pan-Beijing area. Chindata Group has consumed a total of 440.2 million kWh green power through the green power consumption mechanisms in this region and reduced green gas emissions of around 415,000 tons.

In addition, Chindata Group is continuing to strengthen the uptake of green power and development of power plants. According to its 2020 ESG report, renewable energy accounted for 51% of annual total power consumption of its data centers. With abundant local renewable resources as a leverage, Chindata Group also seek to develop renewable energy power plants to provide consistent green electricity for its digital infrastructure. Its 150MW smart photovoltaic power plant oriented for local electricity consumption is expected to produce approximately 200 million kWh annually upon completion, directly cutting around 212,000 tons of carbon dioxide equivalent every year.

Meanwhile, Chindata Group is also exploring the development of power Generation-Grid-Load-Storage integration projects so as to promote the deep integration of new generation power systems with digital businesses, and has proposed the idea of China’s first super energy complex. To date, Chindata Group has reached renewable energy development agreement with several local governments.  

With robust demand from businesses, coupled with favorable government policies, Chindata Group is well-positioned to further align itself with the global effort in achieving net zero carbon emissions. It will continue to deliver high-quality solutions to digital leaders and be their company along their course of carbon reduction.

About Chindata Group
Chindata Group (NASDAQ: CD) is a leading carrier-neutral hyperscale data center solution provider in Asia-Pacific emerging markets and a first mover in building next-generation hyperscale data centers in China, India and Southeast Asia markets, focusing on the whole life cycle of facility planning, investment, design, construction and operation of ecosystem infrastructure in the IT industry. Chindata Group provides its clients with business solutions in major countries and regions in Asia-Pacific emerging markets, including asset-heavy ecosystem chain services such as industrial bases, data centers, network and IT value-added services.

Chindata Group operates two sub-brands: "Chindata" and "Bridge Data Centres". Chindata operates hyper-density IT cluster infrastructure in the Greater Beijing Area, the Yangtze River Delta Area and the Greater Bay Area, the three key economic areas in China, and has become the engine of the regional digital economies. Bridge Data Centres, with its top international development and operation talents in the industry, owns fast deployable data center clusters in Malaysia and India, and seeks business opportunities in other Asia-Pacific emerging markets. Visit official website for more information: https://www.chindatagroup.com

FAQ

What is Chindata Group's involvement in green energy as of September 2021?

Chindata Group participated in China's first nationwide green power transaction by procuring 100 million kWh.

How much CO2 will Chindata Group's green power procurement reduce?

The procurement of 100 million kWh is expected to reduce approximately 94,000 tons of CO2 emissions.

What percentage of Chindata Group's power consumption was renewable in 2020?

In 2020, renewable energy accounted for 51% of Chindata Group's total power consumption.

What is the capacity of Chindata Group's upcoming smart photovoltaic power plant?

The upcoming smart photovoltaic power plant is expected to have a capacity of 150MW.

How much CO2 will Chindata Group's new power plant reduce annually?

The new power plant is projected to cut around 212,000 tons of CO2 emissions each year.