CATL Set up New Subsidaries Focusing on Renewable Energy Projects 

CATL, a leading lithium battery company in China, is actively expanding its portfolio to include wind and photovoltaic power stations, with a new focus on the management of carbon assets.

According to Chinese company profile platform Tinyancha, CATL has established a subsidiary named Times Carbon Asset Management. This new company is fully owned by Times Green Energy, another CATL subsidiary, which focuses on clean energy services and renewable energy projects. Times Carbon Asset Management’s role is to work on carbon management, including reducing emissions and developing carbon capture technologies.

Times Green Energy was initially a joint venture between CATL and Yongfu Shares, but CATL increased its stake in 2022 to take full control. The company is now developing several wind and solar power projects, including the Ningde Deep Water A Area Offshore Wind Farm. These initiatives are part of CATL’s strategy to secure a green power supply, primarily from renewable energy sources.

Currently, Times Green Energy is concentrating on the development and operation of solar power stations, with investments in projects totaling an installed capacity of 418 MW. These include rooftop solar installations for five of CATL’s factories and for other clients, such as Tencent‘s Shanghai Data Center.

Additionally, Times Green Energy recently connected a 250 MW solar power project in Jining, Shandong to the grid. This project is critical to CATL’s operations in the region, where the company plans to establish a new battery production base.

The development of these wind and solar power station projects, along with the green power they generate, forms a crucial part of CATL’s zero-carbon strategy. CATL announced plans to achieve carbon neutrality in its core operations by 2025 and across its value chain by 2035. The company has been progressively increasing the proportion of green power in its production process, from 22% in 2021 to 26.6% in 2022.

In 2022, CATL’s Scope 1 and Scope 2 carbon emissions amounted to 3.24 million tons. Scope 1 refers to the company’s direct emissions, while Scope 2 refers to indirect carbon emissions resulting from the company’s purchase of energy, accounting for 81% of CATL’s total emissions.

Monitoring the carbon footprint of battery products has become an industry trend, and is a key driver for CATL and other lithium battery companies to set zero-carbon targets. The carbon footprint refers to the total carbon emissions resulting from processes such as product production. According to new regulations set by the EU, from February 2025, power batteries sold in Europe must declare their product carbon footprint, and by February 2028, they must meet the relevant carbon footprint limit requirements.

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