Clenergy (Xiamen) Technology Co Ltd and Hunan Xinhua Water Conservancy and Hydropower Co Ltd have entered a cooperation agreement for a 77.1 MW solar power plant. Xiaoming Wang, vice-president of Clenergy; and Wei Wang, general manager of Hunan Xinhua, signed the agreement.
Clenergy has agreed to transfer to Hunan Xinhua in cash 80% of the stock share in five of its wholly-owned subsidiaries in Quanzhou, Fujian.
Hunan Xinhua is a Chinese enterprise engaged in the investment and operation of clean energy generation. It is held by Xinhua Hydropower Co Ltd, which is subordinate to China National Nuclear Corporation, one of the state-owned key enterprises. Hunan Xinhua has implemented an innovative business strategy of hydropower investment in coordination with the development of power grids, wind solar and biomass projects and the electromechanical information industry.
“We are very delighted to cooperate with Hunan Xinhua, which opens up a new win-win dimension for both parties,” said Clenergy VP Wang at the signing ceremony. “[The] Clenery team is in charge of the development, construction and operation of all solar power plants in Nanan, Quanzhou, in Fujian province. With extensive experience in global projects, Clenery has been committed to developing high-quality solar power plants and ensuring for the whole society more green energy.”
Upon transfer, the solar power plant will be jointly held by Clenergy and Hunan Xinhua, marking a new pattern of collaboration with key centrally-administered state-owned enterprises. The cooperation not only enables Clenergy to give full play to its advantages in the field of new energy but also facilitates the distribution of new energy in developed areas for Xinhua Hydropower Group. Both parties have agreed to carry out more strategic cooperation in the field of new energy globally, and to accelerate the rapid development of renewable energy across the globe.
The agreement demonstrates Clenergy’s overall strength in terms of the development, construction, operation and marketing of solar projects. It also represents a milestone in its development of solar power plants.
