Towngas Smart Energy lists first RMB515m quasi-REITs on Shenzhen Exchange

It is the first quasi-REITs issuance by a Hong Kong-invested company in the Chinese mainland.

Towngas Smart Energy listed its first RMB515m quasi-REITs under a RMB5b shelf offering on Shenzhen Stock Exchange.

The “Zero-Carbon Smart Phase 1 Asset-Backed Securities Programme (Carbon Neutral)” represents the first quasi-REITs issuance by a Hong Kong-invested company on the Chinese mainland.

Additionally, it is the first quasi-REITs product in the market to focus on industrial and commercial distributed photovoltaic and energy storage facilities.

The capital raised will be directed towards renewable energy projects, including rooftop solar photovoltaic power generation and energy storage stations.