A Case Analysis Of Fuxin Energy GN003(Blue Bond) Financing

As a new energy source,offshore wind power can reduce carbon dioxide and harmful gas emissions,reduce fossil energy consumption,has a broad development space and application value.China’s 14 th five-year plan and the 2035 long-term goal of developing offshore wind power are proposed.China is rich in offshore wind power resources,high-quality clean energy to be exploited.But its mining technology is demanding difficult,long project construction cycle,large amount of funds,new energy technology innovation also need financial support,there are narrow financing channels,financing options are not many problems.In December2019,the China Banking and Insurance Regulatory Commission issued guidance on promoting high-quality development of the banking and insurance industries,proposing for the first time in a document to“Explore innovative green financial products such as blue bonds”,the policy and the Blue Bond offer a new idea for financing offshore wind power construction.This paper analyzes the reasons,effects and risks of green medium-term notes(blue bonds)issued by Fuxin Energy through case studies,it is of great significance for enterprises to exploit offshore wind power through blue bond financing.In order to study the motivation,effects and risks of the issuance of blue bonds by enterprises,this paper 2021 on the issue of “21 Fuxin Energy GN003(blue bonds)” by Fuxin Energy Development Co.,Ltd.,through the analysis of the Blue Bond,we can get the experience of financing offshore wind power projects by green medium-term notes-Blueb Bondbond)and some suggestions to the market.This paper is composed of five parts: the first part is the introduction of the paper,introducing the research background,research significance,research framework and research methods,the innovation and deficiency of the paper,the motivation of green bond financing,the effect of green bond financing,green bond financing risk-related literature review.The second part is related to the concept and theoretical basis of the paper,green bonds,green medium-term notes,blue bonds,the definition and characteristics of related concepts,related to the theoretical basis.The third part is the case introduction,the wind power industry development process and the basic situation of this issue of bonds and“21 new energy GN003(Blue Bond)” the basic situation.The fourth part is the case analysis of the current issue of blue bonds,the issue of the motivation,financing effects and risk analysis.Firstly,the paper analyzes the internal and external motivation of green medium-term notes-Blueb Bondsonds)financing.Then the paper analyzes the effect of bond financing from the angle of environment,society and Finance.Finally,the risk of bond financing is analyzed from liquidity risk,credit risk,policy risk and climate change risk.The fifth part is the conclusion and suggestion of financing,according to the analysis result of financing motivation,effect and existing risk,to provide various suggestions for enterprises to issue green medium-term notes(blue bonds)to finance offshore wind projects.The contributions of this paper are as follows: first,the research on blue bond financing focuses on the macro-policy level,and pays more attention to the theory than the application of blue bond financing.In addition,based on the different characteristics of these bonds,there are few studies on the subdivision of green bonds.This paper analyzes the issue of green bonds from the perspective of green medium-term notes(blue bonds)bond financing case analysis,the issue of blue bonds to support offshore wind power projects provide a theoretical support,this paper analyzes the motivation,effect and risk of green medium-term note-Blueb Bondbond)financing,and adds the literature on this aspect.Second,the main issuer of this bond is one of the five major power generation groups in China Huadian Group,the only new energy development operating platform.This issue bond is the first blue bond applied in offshore wind power construction in our country.The successful issue of the bond provides an empirical case for supporting enterprise transformation and technological innovation,it provides a demonstration for offshore wind power construction to use green medium-term notes(blue bonds)for financing.