News Release
Singapore, 17 March 2021 – SP Group (SP) and State Grid Chongqing Integrated Energy Service signed a Memorandum of Understanding (MoU) today, to jointly develop integrated energy projects that deliver smart, efficient energy management solutions to meet the evolving operational needs and green targets of customers in Chongqing, China.
The signing was witnessed by SP’s Group Chief Executive Officer, Mr Stanley Huang, and State Grid Chongqing’s Chairman, Mr Chen Liankai.
State Grid Chongqing Integrated Energy Service, a subsidiary co-owned by State Grid Integrated Energy Service Group and State Grid Chongqing Electric Power Company, is responsible for advancing investments, innovation and implementation of energy-efficient solutions and technology through research, building and operational management of energy storage, renewable energy and electricity distribution network projects. The company aims to reduce the cost of energy supply, improve the efficiency of energy utilisation and provide customers with a comprehensive suite of clean energy solutions.
SP’s Group Chief Executive Officer, Mr Stanley Huang, said, “Through our partnership with State Grid Chongqing, we will leverage our combined resources, strengths and domain knowledge to develop sustainable energy solutions customised for customers in China. Chongqing is a key economic, trade and financial city in China and one of strategic importance to us. We are committed to help the city achieve its carbon emissions targets and meet increasingly sophisticated operational demands on its buildings.”
State Grid Chongqing’s Chairman, Mr Chen Liankai, said, “State Grid Chongqing Integrated Energy Services is a key platform for State Grid Chongqing to implement its mandate to build world-class smart grid enterprises. Our objective is to support the city in reducing energy consumption and carbon emissions, and building a better future based on sustainable growth. We value this partnership with SP given its strong footprint in Chongqing, and the success of Raffles City Chongqing’s energy-efficient cooling and heating system. We look forward to leveraging our combined strengths to drive innovation and capabilities towards carbon neutrality.”
In Chongqing, SP Group invested, designed, and operates Raffles City Chongqing’s energyefficient cooling and heating system since 2019 to deliver energy savings for the customer. In January 2021, SP Group also acquired a 40 per cent stake in Chongqing Sino-French Energy Services which expanded the Group’s capabilities into Combined Cooling Heating and Power offerings for Chongqing. SP Group currently has three offices in China (Shanghai, Guangzhou and Chongqing), with its China headquarters located in Shanghai.