Clenergy Headquarters - Clenergy (603628.SH) and Xiamen C&D Inc. (600153.SH,) signed a joint venture agreement on November 8th, 2021, at the Xiamen C&D International Building.
Clenergy Headquarters - Clenergy (603628.SH) and Xiamen C&D Inc. (600153.SH,) signed a joint venture agreement on November 8th, 2021, at the Xiamen C&D International Building. Yongda Zheng, Secretary of the Party Committee and CEO of C&D Inc., and Daniel Hong, CEO at Clenergy, sealed the strategic partnership at the signing ceremony.
Based on the agreement, the joint venture will engage in the investment and operation of rooftop solar plants, which will be 80% owned by C&D Inc. and 20% by Clenergy. Deyan Li, who currently serves as the General Manager at C&D Clean Energy Headquarter (C&D (Nanjing) Co., Ltd.), a subsidiary of C&D Inc., will assume the role of General Manager, responsible for the management and operation of the joint venture.
New Opportunities for Renewable Energy
There is ambitious targets for carbon-neutrality across the globe, with many countries having announced their bold carbon-neutrality goals for a better and cleaner world. China has also promised to reach peak emissions and carbon neutrality by 2030 and 2060, respectively. These targets present an excellent opportunity for the development of comprehensive energy, and distributed energy in particular.
The collaboration between Clenergy and C&D Inc. is not only in line with China's strong commitment to achieving its NetZero targets but also aligns with the growing public sentiment towards renewable energy sources.
As of the end of 2020, solar PV only accounts for 0.1% of the energy mix for electric power generation in the Fujian province, which is far below the average level of 3.51% nationwide.
With the overall decrease in the costs of construction of solar power plants, coupled with the favourable policies regarding the country-wide deployment of rooftop solar PV, there is a promising future for the development of solar power generation in the Fujian province. The distributed rooftop solar PV industry has opened a brand new business model in China with continuous growth. The optimum LCOE mainly drives its progress and the accelerated strategic disposition of the Chinese central & other state-owned enterprises. It forecasted that solar power generation would occupy a larger share in the Fujian province in the coming years.
Clenergy and C&D Inc. have a shared vision towards a greener, low-carbon world with an optimized energy mix. Both brands will focus on developing more sustainable industries in the Fujian province during stage one. This progress will also be showcased and replicated in neighbouring provinces and potentially across the nation.
Win-win Partnership & Complementary Advantages
C&D Inc. is a leading service-oriented enterprise in China with global networks, which is mainly engaged in supply chain operations and real estate development businesses. With a mature LIFT supply chain service system, along with its great brand awareness, C&D Inc. is able to integrate various resources when it comes to the supply chains in the clean energy industry, both upstream and downstream. This helps to ensure optimized circulation efficiency while fulfilling the challenging demands, which is beneficial to speeding up the sound development of the solar PV sector. Thus far, C&D Inc. have established long-term cooperative relationships with multiple leading enterprises across the solar PV industry.
Clenergy is the only public listed A-share company within the solar PV industry for the Fujian province. Since its establishment, Clenergy has remained committed to fulfilling its mission to transform the global energy mix for a carbon-neutral world through its various technologies. With over 14 years' of experience in the renewable energy field, Clenergy has accumulated extensive experience in one-stop services, ranging from the development, design, construction, operation to the maintenance of numerous global solar projects.
Clenergy is one of the renewable enterprises that have responded quickly to the policies for the country-wide deployment of distributed solar PV, unveiling a ground-breaking Distributed Solar + Digital Energy Management solution. This has also enabled us to take a leading position in the solar PV sector. Thus far, this solution has been selected for various rooftop projects across the Fujian and Guangdong provinces. Upon the establishment of the joint venture, Clenergy will also deliver custom-made solutions for the C&D Inc. supply chains and the local distributed solar projects supported by the country-wide initiative, which include but are not limited to the design, construction, operation, and maintenance services.
Daniel Hong stated: "This joint venture represents a win-win partnership, under which C&D Inc. and Clenergy will join hands for the common goal of a sustainable future, with the optimum integration of resources. With Clenergy's technological expertise in the renewable energy sector, along with the excellent services provided by C&D Inc. in the supply chain, I strongly believe both brands will contribute to carbon-neutralworld."
Clenergy (Stock Code: 603628) is a high-tech Sino-Australian founded enterprise in the global solar PV industry. Clenergy specializes in the development, manufacturing, and engineering of one-stop solar mounting gear and solutions for solar plants worldwide. Since its incorporation, Clenergy has fulfilled its mission to transform the global energy mix for a carbon-neutral world through its various technologies.
• Residential, commercial & industrial, ground-mounted, and smart solar tracking solutions
• Construction and smart O&M of solar plants
• Investment in smart solar +digital energy