At present, there are more than 500 energy-saving service companies in China, of which about 70% are small and medium-sized enterprises with limited financial strength. The introduction of financial leasing has become an important measure to solve the financing problem of energy-saving service industry.
This year is a key year to achieve the binding goal of energy conservation and emission reduction in the 11th Five Year Plan. The Chinese government has launched a number of policies and measures to implement the task of energy conservation and emission reduction. Relevant parties are actively exploring the market mechanism to promote energy conservation and emission reduction. On August 23, at the promotion meeting of energy saving and emission reduction business using financial leasing services held in Beijing, financial leasing and energy saving service industry collided with each other.
It is reported that the introduction of financial leasing into energy contract management projects, the investment of energy-saving equipment by financial leasing companies, and the use of energy-saving equipment by energy-saving service companies as lessees in the energy-saving transformation of energy-saving customers, can not only solve the financial bottleneck of energy-saving contract energy management, but also broaden the business of financial leasing companies, and can achieve energy-saving customers, energy-saving service companies The win-win situation of the three parties of the finance leasing company in the contract energy management project.
Confusion in reality
In April this year, the National Development and Reform Commission and the Ministry of Finance jointly issued the Opinions on Accelerating the Implementation of Energy Contract Management to Promote the Development of Energy Conservation Service Industry, which not only promotes energy conservation and emission reduction, but also brings development opportunities for the energy conservation service industry. However, the energy-saving service industry is an emerging industry in China, which is not yet mature and faces financial constraints.
Due to the limitation of corporate debt ratio and the characteristics of energy-saving and emission reduction business, energy-saving equipment manufacturers, energy-saving service companies and energy-saving customers can not achieve large-scale investment of energy-saving equipment through bank loans, and the difficulty in financing has become one of the important factors restricting the promotion of energy-saving and emission reduction.
According to the current rules, energy-saving service companies are mainly responsible for the initial investment of energy-saving equipment in energy contract management projects. However, almost every energy-saving service company will be short of funds due to the large investment in energy contract management projects. Therefore, besides energy-saving customers, energy-saving service companies and energy-saving equipment manufacturers, there is an urgent need for new investors to intervene.
A staff member of Beijing Pelyou Technology Co., Ltd. said that a large amount of capital needs to be invested in the process of promoting energy-saving services and implementing energy contract management projects, and the difficulty in financing has become an important factor restricting the development of energy-saving service industry.
Qu Yankai, Executive Vice President of the Leasing Industry Working Committee of the China Association of Enterprises with Foreign Investment, told reporters: "In the contract energy management project, energy-saving customers, as energy-saving subjects, only use energy-saving equipment instead of purchasing them; energy-saving equipment manufacturers produce energy-saving equipment but cannot invest in the contract energy management project as related parties, so they can only sell equipment instead of investing; Energy saving service companies invest in energy saving equipment and operate and manage them, but they do not have enough funds to support the massive investment of equipment in each project. Therefore, the phenomenon that the industrial chain can not be connected has emerged in energy contract management. "
The Opinions on Accelerating the Implementation of Energy Contract Management to Promote the Development of Energy Conservation Service Industry actively supports the development of energy contract management from the aspects of implementing tax preference, increasing financial support, improving accounting system, and providing financing services. However, some energy-saving service companies reported that the detailed rules for the implementation of relevant preferential tax policies could not be issued in time, and some problems in the practice of energy contract management were difficult to solve, such as poor financing channels.
Qu Yankai believes that the introduction of financial leasing has become an important measure to solve the financing problem of energy-saving service industry.
Financial Leasing Solves Difficulties
In the energy contract management mode, since the energy-saving service company needs to advance all investments in advance, the implementation of the energy contract management project must be based on sufficient funds. Therefore, strong financing support has become the lifeline for the development of energy-saving service companies.
The limited guarantee resources of ESCOs and the harsh external guarantee conditions restrict the financing of ESCOs. At the same time, there are few loan varieties matching the energy contract management model due to high risk and other reasons, which makes it difficult for energy-saving service companies to finance projects through banks and other financial institutions.
After the financial leasing is involved in the energy management contract project, the financial leasing company will invest in the purchase of energy-saving equipment, and the energy-saving service company will lease the energy-saving equipment to energy-saving customers. During the lease period, the ownership of energy-saving equipment belongs to the financial leasing company, and the energy-saving customers have the right to use and pay the rent on schedule. The lease time and rent are determined according to the energy-saving benefits, that is, the rent is paid based on the energy-saving benefits generated by energy-saving equipment. After the lease expires, the energy-saving equipment can be disposed according to the agreement, and can be flexibly purchased, renewed or returned.
Qu Yankai said: "If financial leasing is involved in the contract energy management, it can achieve 'Samsung Embracing the Moon'. After purchasing energy-saving equipment, financial leasing companies can invest in the contract energy management project in the form of leasing, so that energy-saving customers can achieve energy-saving effects and get benefit sharing rights without buying energy-saving equipment; energy-saving equipment manufacturers can realize sales revenue and can also promise to buy back residual value; The energy-saving service company leases energy-saving equipment and puts it into the project to achieve energy-saving benefits. "
It is reported that there are more than 500 energy-saving service companies in China, of which about 70% are small and medium-sized enterprises, with limited financial strength. The main sources of funds for the energy-saving service industry are subsidies granted by relevant national preferential policies, self owned funds of energy-saving service companies, debt financing (including guarantees and loans), equity financing and financial leasing. For energy-saving service companies, government subsidies are limited and paid in installments, and their own funds are limited. It is relatively difficult to borrow from banks. Therefore, compared with other financing methods, Qu Yankai believes that financial leasing is relatively easy.
Yang Gang, vice president of Siemens Financial Leasing Co., Ltd., believes that energy contract management is a financing project in itself, and the advantage of financial leasing participating in energy-saving services lies in that it can achieve the maximum benefit for energy-saving customers, solve the investment capital needs of energy-saving service companies, and achieve both economic and social benefits of energy conservation.
In addition, financial leasing will not only solve the financing problems in the field of energy-saving services, but also benefit from financial leasing itself.
"Marriage" Appears
Xu Fei, technical consultant of the Energy Conservation Service Industry Committee of China Energy Conservation Association, said that China should achieve the two goals of reducing carbon dioxide emissions per unit of GDP by 40% to 45% by 2020 compared with 2005, and achieving the share of renewable energy by 15%. It is estimated that during the "12th Five Year Plan" and the "13th Five Year Plan" period, about 1.5 trillion yuan of investment will be needed every year. Government investment alone is far from enough, Various financing methods need to be introduced into energy conservation and emission reduction, and financial leasing involved in energy conservation service industry is an important channel to introduce capital.
Li Luyang, external director of China Energy Conservation and Environmental Protection Group, believes that not only small and medium-sized energy-saving service companies need to broaden their financing channels, but also central enterprises need a large amount of capital investment. Since the State owned Assets Supervision and Administration Commission of the State Council is very strict in assessing the asset liability ratio of central enterprises, in order to effectively reduce the asset liability ratio, central enterprises also need financial leasing services. Therefore, with the further promotion of energy conservation and emission reduction, there are unlimited business opportunities in the field of financial leasing services and energy conservation services.
In the face of business opportunities, financial leasing companies scramble to enter the energy-saving service market. According to Yang Gang, Siemens Financial Leasing Co., Ltd. has long been involved in the field of energy-saving services, and actively explored new modes of energy-saving services in cooperation with energy-saving service companies. For example, it cooperated with Pelyou to implement the mode of energy management contract+financial leasing.
Including the first batch of energy-saving service companies in the industrial field recently announced by the Ministry of Industry and Information Technology, many energy-saving service companies pay close attention to the demonstration role of this model, and some energy-saving service companies have begun to cooperate with financial leasing companies to carry out energy management contracts.
In addition, many financial leasing companies also showed great interest in this model at the promotion meeting of energy conservation and emission reduction of financial leasing services.
Industrial Finance Leasing Co., Ltd. regards energy conservation and emission reduction as one of the important business plans. According to Zheng Changmei, president of the company, in view of the market potential and high income of the energy conservation service industry, as a financial leasing institution, Industrial Finance Leasing Co., Ltd. will cover key enterprises in energy conservation and emission reduction, including energy conservation service companies and energy conservation equipment manufacturers.
While financial leasing companies pay attention to business opportunities, some powerful energy-saving service companies also pay enough attention to financial leasing. As the pioneer of the new business model of energy-saving equipment financial leasing, Shandong Rongshihua Leasing Co., Ltd. has transformed from the original energy-saving service company into a financial leasing company. Based on this mode of operation, as of the end of 2009, Rongshihua's total investment in energy contract management reached 1.17 billion yuan. In view of its successful experience, relevant national departments have recently begun to conduct research on Rongshihua Company.
Qu Yankai believes that financial leasing companies can not only cooperate with energy-saving service companies to achieve win-win results, but also can set up energy-saving service companies themselves, or powerful energy-saving service companies can set up financial leasing companies to achieve internal integration and generate energy-saving customers, energy-saving service companies, financial leasing companies Energy saving equipment manufacturers and other multi-party cooperation integration mode.
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