Media OutReach<\/a>\u00a0–\u00a09 November 2021 –\u00a0Century Energy
\nInternational Holdings Limited<\/b> (Century Energy, or the “Company”, together
\nwith its subsidiaries the “Group”, HKSE Stock Code: 8132) announced a
\ncooperation framework agreement with Shendianneng Technology Group\u00a0 Co., Ltd. (”Shendianneng Technology”) for a possible
\nbusiness cooperation in relation to energy storage power plants (the
\n”Cooperation Framework Agreement”).\u00a0 This
\nframework agreement with Shendianneng Technology is the third business development of the
\nGroup following a new management team on board in early October 2021.<\/p>\n\u00a0<\/p>\n
Pursuant to agreement, Shendianneng Technology may refer
\nprojects related to electrochemical energy storage power plants to Century
\nEnergy for consideration of investment, and if the investment in the projects
\nrelated to electrochemical energy storage power plants are approved by Century Energy,
\nthe Group may invest in such projects and be entitled to the title and the
\nrevenue generated by such projects. The Company may also give priority
\nconsideration in engaging Shendianneng Technology for the design and
\nconstruction of the electrochemical energy storage power plants on same terms
\noffered by other parties. Upon the completion of construction of the
\nelectrochemical energy storage power plants, Century Energy may engage
\nShendianneng Technology in managing the operations of such plants. <\/p>\n
\u00a0<\/p>\n
Shendianneng Technology is principally engaged in electricity
\nretailing, electricity distribution, electric vehicle charging business,
\nsoftware development and photovoltaic power generation business.\u00a0 It is held as to 50% by Shenzhen National
\nElectricity Investment Partnership (Limited Partnership) , 40% by BYD Company
\nLimited (HKSE Stock Code: 1211) and 10% by Shenzhen Canyou Group Co., Ltd.\u00a0 <\/p>\n
\u00a0<\/p>\n
Commenting on the latest business development, Mr. Cheung
\nYip-sang, CEO of Century Energy, said, “We are pleased to enter into the
\ncooperation with Shendianneng Technology to jointly develop the user-side
\nenergy storage business in response to the national power reform and new energy
\ndevelopment policies. The Chinese government implemented a new policy last
\nmonth, allowing a widened electricity price fluctuation range to reflect
\nsupply-and-demand situations. The energy storage business we plan to develop will
\nallow industrial and commercial users to store and use energy as needed,
\nthereby helping users stabilize electricity supply and reduce electricity
\ncosts.\u00a0 Shendianneng Technology, backed
\nby its strong shareholding background, has an extensive industry network and a
\nstrong pool of talents in the electrochemical energy storage sector and
\nelectricity retailing.\u00a0 Through this
\nframework agreement, Century Energy will be able to further develop and expand
\nits business in electrochemical energy storage power plants.\u00a0 It also complements the business strategy of
\nthe Group in establishing our core competitiveness in the fields of new energy
\nmaterials, energy saving and environmental protection and digital technologies
\nfor energy safety.”\u00a0 <\/p>\n
\u00a0<\/p>\n
The Group announced last month two other strategic cooperation
\nagreements in relation to business development and financing arrangement. It
\nentered into a non-legally binding strategic cooperation framework agreement
\nwith Yantai Yindu Industry Co., Ltd. and Shandong Pan-Asia International Energy
\nDistribution Center Co., Ltd. (“Shandong Pan-Asia”) which will result in the
\nacquisition of a 51% equity interest in Shandong Pan-Asia. Through this
\nagreement, the Group will be able to invest in Yantai Xigang liquefied natural
\ngas (“LNG”) receiving terminal and gas pipelines projects. Subsequently on 11
\nOctober 2021, the Group entered into a non-legally binding strategic
\ncooperation agreement with Beijing Qinglu Zhongbing Asset Management Co., Ltd.,
\nunder which the two parties may establish funds or joint venture companies to
\nprovide funding, if needed, to support the Group’s future business development
\nneeds.<\/p>\n
\u00a0<\/p>\n<\/p><\/div>\n\n
Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"HONG KONG SAR –\u00a0Media OutReach\u00a0–\u00a09 November 2021 –\u00a0Century Energy
International Holdings Limited (Century Energy, or the “Company”, together
with its subsidiaries the “Group”, HKSE Stock Code: 8132) announced a
cooperation framework agreement with Shendianneng Technology Group\u00a0 Co., Ltd. (”Shendianneng Technology”) for a possible
business cooperation in relation to energy storage power plants (the
”Cooperation Framework …<\/p>\n","protected":false},"author":1,"featured_media":18692,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[60],"tags":[],"_links":{"self":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts\/18691"}],"collection":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/comments?post=18691"}],"version-history":[{"count":0,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts\/18691\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/media\/18692"}],"wp:attachment":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/media?parent=18691"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/categories?post=18691"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/tags?post=18691"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}