SP Group partners CapitaLand JV to develop energy-saving solutions in China

Fiona Lam
Published Mon, Aug 31, 2020 · 03:16 AM

NATIONAL power grid operator SP Group and Sino-Singapore Guangzhou Knowledge City Investment and Development Co (GKC) will develop district cooling, heating and integrated energy solutions.

These will help GKC's greenfield master development, the China-Singapore Guangzhou Knowledge City (CSGKC), achieve energy savings.

GKC is a joint-venture (JV) company established by CapitaLand and the Guangzhou Development District Administrative Committee.

In a press statement on Monday, SP Group announced it had signed an agreement with GKC to set up a JV.

As part of the agreement, the two parties are working together to develop district cooling and heating solutions for the Knowledge Tower project at the Jiulong lake area, for a start.

They will invest in, construct and operate these solutions centred on the smart micro-grids layout, said GKC's chief executive officer (CEO) Chen Changxin.

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SP Group and GKC will also integrate sustainable energy solutions, such as distributed energy, energy storage, energy efficiency and energy management systems.

These solutions could be extended to other projects in the Sino-Singapore International Technology Innovation Cooperation Demonstration Area within CSGKC, to provide energy and cost savings to more customers.

"This will translate to a cleaner and more sustainable energy future for CSGKC and Guangzhou city," SP Group said in the statement.

The energy utilities group's CEO Stanley Huang noted that its technology and operations at Raffles City Chongqing in China and the Marina Bay financial district in Singapore have helped customers achieve cost savings and reduce energy consumption.

At CapitaLand's Raffles City Chongqing, SP Group operates its advanced energy-efficient cooling and heating system, which began operations in September last year. This has enabled the mixed-use complex to cut energy consumption by more than 40 per cent, compared to conventional chiller plants for buildings.

SP Group also designed and has been operating the underground district cooling system at the Marina Bay financial district since 2006.

GKC's Mr Chen said that GKC is "an important platform for China-Singapore collaboration".

"It is a milestone for us to jointly establish a joint venture to develop the smart energy business," he added.

CapitaLand shares rose S$0.03 or 1.1 per cent to trade at S$2.81 as at 10.58am on Monday.

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