Core Insights - The successful issuance and listing of the "Yuanjing Energy ABS" marks a significant breakthrough in the securitization of wind power assets, paving the way for more high-quality wind power assets to be packaged into standardized products for the capital market [3][6] - The project aims to establish a standard trading mechanism for green infrastructure assets and promote the normalization of green asset securitization in the context of the wind power industry [3][9] Group 1: Project Overview - The underlying asset of Yuanjing Energy ABS is the Weixian Hengpeng Wind Power Project, which is set to achieve full capacity grid connection by the end of 2024 [5][6] - The project, located in Handan City, Hebei Province, has a total installed capacity of 100 MW, featuring 17 EN-200/5.5MW and 1 EN-182/6.5MW wind turbines [6][10] Group 2: Operational Innovations - The project has shifted its operational focus from "production" to "revenue," emphasizing revenue utilization rates (RBA) over energy utilization rates (EBA) [10][12] - Utilizing advanced weather prediction models, the project can accurately forecast annual electricity generation with an error margin of less than 5% [13][16] - The trading model leverages real-time market analysis to achieve higher settlement prices, with the project’s market trading price at 0.437 yuan/kWh, exceeding the benchmark price by approximately 0.01 yuan [14][23] Group 3: Risk Management and Performance - The project incorporates a comprehensive health monitoring system for key components, enhancing risk management and operational safety [15][19] - The integrated operation model allows for optimized planning and response to market signals, resulting in an annual revenue increase of 12 yuan/kW compared to traditional models [20][23] - Over the past six months, the Weixian Hengpeng project has generated 150 million kWh of electricity, achieving a utilization rate of 99.1% and an RBA above 95%, providing stable returns for investors [23]