Sany and Zhongsheng are preparing to establish a joint venture to develop the distributed photovoltaic new energy market

On November 23, Sany Solar Company, a subsidiary of Sany Group, and Zhongsheng Energy Company, a subsidiary of Zhongsheng Group, officially signed a joint venture agreement in Shanghai. According to the agreement, the two parties will form a joint venture company to jointly develop the rooftop distributed photovoltaic market in the form of a combination of industry and finance. At present, the first batch of 150MW distributed photovoltaic projects jointly developed and constructed by the two sides has entered the preparatory stage.

It is understood that the main business of the newly established joint venture involves the investment, development, design, construction, operation and maintenance of photovoltaic power stations, and will cover the roofs of more than 10 industrial parks under Sany Group. Sany Group and Zhongsheng Energy will strengthen economic and technical cooperation with each other, give full play to their respective advantages, and help the joint venture grow rapidly in the field of distributed photovoltaics.

Sany Group is the world's first construction machinery manufacturer, and was selected as one of the top 500 global market capitalization in 2011. In recent years, focusing on the development strategy of "new era, new Sany", while continuing to consolidate its advantages in the field of equipment manufacturing, Sany has begun to enter the "new energy" and "finance" sectors, and hopes to build it into the two core sectors of the group.

Zhongsheng Energy is a first-class photovoltaic power plant developer and operator in China, with excellent project development capabilities, EPC capabilities and power station operation and maintenance capabilities. Zhongsheng Energy's business covers more than 90 countries and regions around the world, and has been rated as a world*5656 solar energy enterprise by Bloomberg for many years.

At the signing site, Liang Zaizhong, director of Sany Group, said that the Sany financial sector has covered financial leasing, auto finance, industrial funds, insurance and other fields, and its Sanxiang Bank will also open at the end of the year. At the same time, the development of Sany Finance is mainly based on the "combination of industry and finance" model, and has been relatively mature in the integration of finance and engineering equipment industry.

Liang Zaizhong also emphasized: "our country is in the era of financial reform, the entire financial market lacks high-quality financial assets, and there are fewer institutions entering the field of new energy, which means that we will have a very broad market." Zhongsheng is a world-renowned photovoltaic company, and this cooperation will be a strong alliance. We will make joint efforts in the combination of industry and finance, investment and loan linkage, explore a new path, and jointly promote the layout and development of the upstream and downstream of the new energy industry.

Wang Xinghua, chairman of Zhongsheng Group, said at the signing ceremony that after years of development, China Photovoltaic has shown the characteristics of "stronger and stronger financial attributes", and he believes that Sany's strong financial strength will provide sufficient support for this cooperation.

According to Cheng Weihua, general manager of Sany Solar Company, since 2016, Sany has begun to try to invest in the construction of distributed photovoltaic power stations on the roofs of the group's own factories. At present, Sany has invested 200 million yuan and has built pilot photovoltaic power generation projects in six major industrial parks including Beijing, Zhuhai, Ningxiang, Changsha, Huzhou and Shanghai.

Up to now, this batch of self-pilot projects with a total power of 26.5MW has been connected to the grid, with an average operation time of 5 months, providing a total of about 12.5 million kWh of clean energy for the Sany plant and power grid, equivalent to reducing carbon dioxide emissions by 12,000 tons or planting 660,000 trees. Cheng Weihua said that in addition to providing completely clean energy and creating energy conservation and emission reduction demonstrations, the investment returns of distributed photovoltaic power plants have also been verified.