Environmental protection solutions specialist Sunpower Group says its 85%-owned subsidiary company, Qingdao Xinyuan Thermal Power has entered into a concession agreement with the Jimo International Trade City Management Committee to supply an area spanning two million sqm in Jimo International Trade Park with clean heating.
The addition of this concession will expand Xinyuan Plant’s existing supply coverage area in Qingdao City of Shandong Province.
The park is a concentrated area that brings together commercial complexes and residential projects. Its total planned construction area is expected to exceed six million sqm.
The infrastructure construction for Xinyuan Plant’s concession coverage area has been completed, and more companies and residents are gradually settling in.
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According to Sunpower, this can be expected to gradually increase the demand for steam from Xinyuan Plant in the future.
Xinyuan Plant is a combined heat and power (CHP) plant that supplies steam to industrial enterprises. It also provides clean heating to residential homes and sells electricity to the state grid.
“Our success in securing the agreement for the heating supply concession rights in the Park is due to our consistency in meeting project requirements, our proven project management capability, high level of professionalism and the technological strengths of the green investments (GI) business,” says Guo Hongxin, executive chairman of Sunpower.
“Securing this opportunity is a testament to our acumen in identifying high-quality projects with growth potential, while the track record of our GI projects lays a strong foundation to clinch more such opportunities in the future,” he adds.
Shares in Sunpower closed 1 cent lower or 1.1% down at 93 cents on Jan 26.
