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Making Green Money

(Beijing Review)

13:36, May 07, 2012

CLEAN MISSION: A worker inspects a sewage treatment factory in Bayan Nur, Inner Mongolia Autonomous Region (ZHANG LING)

Since its first biomass power plant was launched in 2006 in Shanxian County of Shandong Province, China National Bio Energy Co. Ltd. (NBE) has built 26 additional facilities. Ten more are under construction.

Despite the fact that today NBE is the only company in the world to incorporate the entire biomass energy production chain, from equipment manufacturing to power plant operation to providing a whole range of proprietary technology, a lack of capital has haunted Kai Johan Jiang, Chairman of NBE.

"Biomass energy is a totally new industry in China and we still cannot produce ideal financial numbers. Getting bank loans is still pretty difficult," he said.

Green companies in China, especially privately owned ones, are facing increased difficulties in gaining support from capital markets.

While China's environmental protection industry is becoming a hotspot of investment, financing difficulties continue to plague the green sector, according to a research report issued by CCID Consulting, China's largest research, consulting and IT outsourcing service company.

The Report on the Investment and M&A in China's Environmental Protection Industry released on April 18 said the long investment cycle, slow return and high technological content standard have made it even more difficult for enterprises in the industry to obtain financing.

Despite the fact the government has been the major sponsor of environmental protection projects, social capital is still needed to fill the huge financing gap in the country's green ambition. This will require full utilization of market mechanisms, a diversified investment structure and complete government support.

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