Deal paves way for low-carbon, smart energy solutions
The agreement is signed to form an alliance between SP Group and CMB Financial Leasing Co Ltd.
SP Group has established a strategic alliance with CMB Financial Leasing Co Ltd via SP's wholly-owned subsidiary, Shirui Energy Technology (Shanghai) Co Ltd.
Under this partnership, CMB Financial Leasing will provide competitive financing services to support SP Group's deployment of renewable energy solutions in China.
As Singapore's national grid operator, SP Group aims to provide low-carbon, smart energy solutions for its customers. CMB Financial Leasing is a wholly owned subsidiary of China Merchants Bank.
The scale of the cooperation is expected to reach up to 8 billion yuan (US$1.12 billion) in the next three years, focusing on SP's target cities and projects. These projects include utility scale solar farms, distributed solar photovoltaic, energy storage and district cooling and heating.
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