(7th July
2015, HONG KONG) –
China South City
Holdings Limited (“China South City”, 1668.HK) and
Singyes Solar Technologies Holdings Limited (“Singyes Solar”; 750.HK)
jointly
announced that they
have signed a memorandum of understanding (the “MOU”) to forge closer cooperation
in solar power energy conservation business. Singyes Solar will be China South
City's priority partner for installing solar power generation systems on the roof-top
of buildings in China South City's projects, which are suitable for such installment.
This is expected to involve 260,000 square meters of roof-top area. The
projects are located in eight provincial capitals or municipality, namely Shenzhen,
Nanchang, Nanning, Xi’an, Zhengzhou, Harbin, Hefei and Chongqing.
China South City is the
leading operator of large-scale integrated logistics and trade centers in China,
while Singyes Solar focuses on the integration of renewable energy systems by bringing
energy savings to buildings. The two companies will leverage their respective
strengths in expertise, resources, brand name, operations and management to create
a strategic cooperative relationship in solar power energy conservation and
environmental protection area. Meanwhile, Singyes Solar will consider China
South City’s products and services as its top priority for operation, including
its office buildings, logistics and warehousing, trade centers, as well as
online and offline sales platforms.
In addition, Singyes Solar and China South City have
signed a contract where Singyes Solar is commissioned to build a 2MW solar power
generation system on the roof-top of the Plaza 4 in China South City Shenzhen
Phase II, for use by China South City Shenzhen and its tenants. The power system
is expected to generate an average annual 2,000,000 kWh of electricity. Singyes
Solar will be responsible for capital investment, design, procurement,
construction, electricity supply operations and maintenance of the solar power generation
system. Meanwhile, China South City Shenzhen would pay Singyes Solar the
corresponding electricity fees based on the actual electricity consumption and
the contracted price. The project is expected to be completed by the end of
this year and connected to the power grid thereafter.
Mr. Cheng Chung Hing,
Co-Chairman and Executive Director of China South City, said,
"As China's economic development has entered a ’new normal‘, the
government has actively promoted quality and sustainable economic growth. Following
the implementation of government policy, we are very pleased to work together
with Singyes Solar to lower the power bills at our projects on one hand, and to
create a green operating environment for our customers and boost their competitiveness
on the other hand, hence contributing to our environmental efforts. We firmly
believe that the cooperation will allow both companies to leverage their
respective competitive strengths to achieve a win-win situation, driving each
other’s future business development into a new phase.”
Mr. Liu Hongwei, Chairman of Singyes Solar,
elaborated that “We believe the Chinese government will have more robust
planning on green and sustainable development, in order to support its overall
growth plan. The two companies will explore collaboration in different projects,
which some of them are located in the provinces covered by the ‘One Belt and One
Road’. Also, we expect the roof top project is available for installing 26MW
solar power generation stations. The collaboration will bring more development
opportunities for us, especially in broadening the application of photovoltaic
(PV) systems. We will cooperate with China South City in various areas such as
the design and construction of green buildings and application of PV systems.
The collaboration will enable us to seize the growing market opportunities and work
together in building smart green communities.”
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