Bank SinoPac is promoting a green electricity trading network and has introduced a trust structure to promote mutual trust between green energy generation, electricity sellers, and electricity purchasers. Today, it signed a cooperation agreement with the electricity seller, Southern Electricity. Trust management mechanisms such as electricity bills and energy storage ancillary service price income improve the safe management of cash flow in the transaction process and help corporate partners to accelerate the achievement of net-zero carbon reduction goals. Bank SinoPac Senior Executive Vice President, Stephen Ou Yang, stated that SinoPac has repsonded actively to the policy of developing green financial services in recent years. In response to the liberalization trends of the green electricity market, both the industry that invests in the construction of solar photovoltaics and the enterprises that demand green electricity have grown rapidly. The market development of green electricity is affected by factors such as the scale and familiarity of individual industries.
Stephen Ou Yang pointed out that this time SinoPac and Southern Electricity will jointly provide innovative trust services for the most common cash flow custody issues for small and medium-sized enterprises, which will be used to improve the purchase or resale of electricity among green electricity users, the power generation industry, and the electricity sales industry. The security of the company is conducive to the overall risk management of SinoPac Green Energy's financing business and, by exerting its financial influence, it will gradually build a safe transaction network.
Stephen Ou Yang explained that this time he signed a cooperation agreement with Southern Electricity and, in the future, through trust, both parties will jointly assist energy storage equipment manufacturers to sell electricity through qualified traders on the electricity trading platform of Taipower and stored electricity can be sold back to Taipower to ease electricity consumption. The trust mechanism greatly improves the security of cash flow between energy storage equipment manufacturers and qualified traders.
SinoPac stated, in response to the “Green Finance 2.0” and “Trust 2.0” policies of regulators, it innovated and launched the local rebate fund trust mechanism in 2021 to assist energy companies in managing local rebates to assist the development of the green energy industry. In the future, SinoPac will continue to use innovative thinking to provide customers with new types of green financial services and work with the industry to achieve the sustainable operation goals of energy conservation and net zero carbon emissions.
(Image: SinoPac)
