China Longyuan Power Group Corp. Ltd.?s (Longyuan) role as the pure renewable energy operator under China Energy Investment Corp. Ltd. (CEIC) is strengthening. The parent's asset injection plan reaffirms our view that Longyuan is differentiated from other group companies in developing renewable projects. Its position as one of the largest wind farm operators in the world is highly strategic to CEIC?s energy transition. CEIC is also playing a more critical role in China's energy security plans. The group is the largest domestic coal supplier and supports stable coal-power generation. We have revised upward our assessment of Longyuan?s group status based on these factors. On Dec. 17, 2024, S&P Global Ratings affirmed its ?A-? long-term issuer credit rating on Longyuan. The
