CDM Concessional Loans Granted to Three Projects in Beijing

The Management Center issued approval of clean development concessional loans to three rural household coal-to-gas conversion projects in Pinggu, Changping and Yanqing district by the subsidiaries of Beijing Gas Group on January 29, 2018. These projects are subordinate to the Beijing Rural Coal-to-Gas Conversion Project of Beijing Gas Group, co-financed by China CDM Fund and Asian Infrastructure Investment Bank (AIIB). This marks the first AIIB investment project in China and also the first cooperation between China CDM Fund and an international financial institution in project development. The amount of loan granted to the Pinggu project is RMB 69 million, the Changping project RMB 34 million and the Yanqing project RMB 45 million. All three projects are guaranteed by Beijing Gas Group. The amount of the concessional loans totals RMB 148 million and can correspondingly leverage RMB 1.25 billion private capital. It is estimated that the three projects can reduce carbon emission by 143,711 tCO₂e annually.

Because of the expansion of urban area, geographic location and other reasons, gas supply in Beijing is unbalanced. Rural households rely mostly on coal or firewood for heating. The coal-to-gas conversion in rural areas of Beijing is conducted in response to the call of the central government, “to implement the rural vitalization strategy and promote the construction of beautiful village”, and it is an important measure to “strive to make our skies clean again” by coordinating different districts to promote the household natural gas installation according to the local conditions. It includes installing gas sources, mid-pressure gas pipes, low-pressure gas pipes in the villages and household flow meters. Once completed, clean and easy access to natural gas will benefit 10,784 households in 52 villages of Pinggu District, 34,858 households in 88 villages of Changping District and 6,406 households in 17 villages of Yanqing District, altogether 52,048 households in 157 villages. The project uses natural gas to replace coal for heating and cooking and therefore can reduce greenhouse gas emissions.

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