ENGIE signed today in Shanghai an Agreement for a 30% equity investment through capital increase in UNISUN, a solar photovoltaic (PV) company.
Since 2014, UNISUN has successfully developed around 500 MW PV projects, showing strong technical capacity.
During COP21, China pledged to peak its carbon emissions in 2030 or earlier; the country shall subsequently increase the share of non-fossil energy from 13% to 20% in its energy mix by then. ENGIE, global energy player with the ambition to be leader of the energy transition, is proud to contribute to Chinese renewable energy development and to support the transformation of China into a low-carbon economy.
ENGIE aims to support UNISUN in the field of photovoltaic business’ development, ownership, operation, as well as smart energy management in China. Forecasting fast growing business, UNISUN targets a development of around 4 GW PV projects (cumulated capacity) by 2020 in China.
Ms. He Yisha, President of UNISUN, stated: “The investment by the energy giant ENGIE into UNISUN demonstrates that the innovative business model and comprehensive service capacity of UNISUN is highly recognized. ENGIE’s strong support, in terms of experience, technology and resources will lead to a comprehensive upgrading of UNISUN capacity to achieve its vision to be a competent, innovative and integrated energy provider”.
Ms. Charlotte Roule, COO of ENGIE China declared: “This investment into UNISUN, which develops both projects of production on wholesale electricity market and projects for BtoB clients, represents for ENGIE the opportunity to step in the world biggest and most promising renewable power market. It demonstrates once again the ambition of ENGIE to be leader of the energy transition in the world”.
ENGIE develops its businesses (power, natural gas, energy services) around a model based on responsible growth to take on the major challenges of energy’s transition to a low-carbon economy: access to sustainable energy, climate-change mitigation and adaptation and the rational use of resources. The Group provides individuals, cities and businesses with highly efficient and innovative solutions largely based on its expertise in four key sectors: renewable energy, energy efficiency, liquefied natural gas and digital technology. ENGIE employs 153,090 people worldwide and achieved revenues of €66.6 billion in 2016. The Group is listed on the Paris and Brussels stock exchanges (ENGI) and is represented in the main international indices: CAC 40, BEL 20, DJ Euro Stoxx 50, Euronext 100, FTSE Eurotop 100, MSCI Europe, DJSI World, DJSI Europe and Euronext Vigeo (World 120, Eurozone 120, Europe 120 and France 20).
About ENGIE in China
ENGIE has started to develop relationship and cooperation with Chinese partners since more than 30 years, with two significant recent milestones, the creation of a representative office in Beijing in 2008 and the set-up of a business unit to develop industrial activities in 2014.
Leveraging on the Group’s know-how and solutions, ENGIE aims at becoming a benchmark player in China’s energy transition, developing decarbonated, decentralized and digitalized solutions in the areas of Energy Services, Engineering and Gas sectors and now entering the Renewables sector, as well as facilitating ENGIE and Chinese companies to jointly develop projects in third-party markets.
ENGIE is present in the cities of Beijing, Shanghai, Chongqing, as well as in the provinces of Sichuan and Shaanxi, having developed various joint ventures in the domain of district cooling and heating networks, energy efficiency services, energy cogeneration, gas infrastructure and engineering services. ENGIE has also successfully contributed to Chinese gas security of supply through 3 Liquefied Natural Gas supply contracts respectively with CNOOC (from 2013 to 2017) and during the two last winter periods with Beijing Gas Group.
About UNISUN Group
UNISUN is a global photovoltaic power plant investor, developer and clean energy solutions provider. By taking full advantage of its approach to quality control, technical design capabilities and project management experience, and thanks to its strong global product development and resource integration capacity, the company is able to provide a Turn-key PV power plant investment service to clients around the world.