Baosteel Photovoltaic Support Franchise Conditions

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Figure: the world''s biggest plant roof-mounted

Baosteel Administration Center, 885 Fujin Rd. Baoshan District, Shanghai Board of Directors'' Secretary Office of Baoshan Iron & Steel Co., Ltd., Baosteel Administration Center, 885 Fujin

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Baosteel Photovoltaic Support Franchise Conditions

5 FAQs about [Baosteel Photovoltaic Support Franchise Conditions]

Who owns Baoshan Iron & Steel Company (Baosteel)?

Baoshan Iron & Steel Co. Ltd. (Baosteel) is a 62%-owned subsidiary of China Baowu Steel Group Corporation Limited (A+/Stable). It is the group's largest subsidiary, and holds most of the group's strategic assets.

Is Baosteel a strong subsidiary?

It is the group's largest subsidiary, and holds most of the group's strategic assets. Baosteel’s rating is therefore equalised with that of Baowu to reflect strong operational and strategic linkages, under the "strong parent, weak subsidiary" path of Fitch Ratings’ Parent and Subsidiary Linkage (PSL) Rating Criteria.

Will Zhanjiang Iron & Steel Plant get photovoltaic power?

On December 15, 2021, the photovoltaic power generation (phase I) project of 48.2MW installed capacity of Zhanjiang Iron and Steel Co., Ltd. was successfully connected to the grid and successfully sent out the "first" photovoltaic power on the roof of Zhanjiang Iron and Steel Plant.

How strong are Baowu's support precedents?

'Very Strong' Precedents of Support: We assess Baowu's support precedents as 'Very Strong', as the state provided significant support during its creation in 2016 with the merger of Baosteel Group Corporation and Wuhan Iron and Steel Group.

Who owns Baowu?

Baowu is fully owned by China's central government, which exerts control over the company's board and senior management, and has strong influence over the group's key operation, strategies and investment decisions.

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