Singapore Energy Group, a leading energy utility group and low carbon new energy investor in Asia Pacific, has announced the acquisition of nearly 150MW of rooftop photovoltaic assets from Lian Sheng New Energy Group. By the end of March 2023, the two parties had completed the transfer of approximately 80MW of projects, with the final batch of approximately 70MW in progress. The completed assets involve more than 50 rooftops, mainly in the coastal provinces of Fujian, Jiangsu, Zhejiang and Guangdong, providing green power to 50 corporate customers including food, beverage, automotive and textile.
The Singapore Energy Group is committed to strategic investment and continued development of new energy assets. The investment in photovoltaic assets started from the coastal areas where commerce and industry are well developed, and followed the market trend to the neighbouring provinces such as Hebei, Jiangxi, Anhui, Hunan, Shandong and Hubei where commercial and industrial demand for electricity is strong. With this, Singapore Energy’s new energy business in China now covers 10 provinces.
In the course of its active presence in the Chinese PV market, Singapore Energy has adopted a prudent investment strategy and diversified its portfolio to participate in distributed grid-connected, self-generation and ground-mounted centralised projects. It also focuses on building energy networks, including building a regional portfolio of assets, and is keenly aware of the demand for energy storage.
Mr. Jimmy Chung, President of Singapore Energy China, said, “The positive outlook for the PV market in China has prompted Singapore Energy to significantly increase its investment and acquisition rate in PV projects. The Group’s acquisition is also another signal to accelerate its move into the Chinese new energy market, and we look forward to working extensively with renowned players in the industry to achieve better integration of PV assets.”
Since its entry into the China market, Singapore Energy Group has been increasing its investment. It has recently entered into a strategic alliance with three industry benchmark companies, namely South China Network Finance & Leasing, CGN International Finance & Leasing and CIMC Finance & Leasing, to jointly invest and develop new energy development, energy storage plants and integrated energy projects in China.
Post time: Apr-20-2023
