2 billion! Establishment of Guangzhou Energy Storage Group

2023-06-19 14:35:53

By the end of the 14th Five-Year Plan, green low-carbon energy accounted for more than 75%, and there were business needs for power side energy storage, grid side energy storage and user side energy storage.

On June 17, Guangzhou Development announced that the company intends to establish Guangzhou Energy Storage Group Co., Ltd. (Hereinafter referred to as "Energy Storage Group") jointly with the controlling shareholder Guangzhou Industrial Investment Holding Group Co., Ltd. The shareholding ratio is 34%.

The announcement shows that the business scope of the proposed energy storage group includes electrochemical energy storage; hydrogen energy "storage and transportation"; investment, construction, operation and maintenance of mechanical energy storage, pumped storage and other projects; investment, construction, operation and maintenance of charging pile projects; equity investment in energy storage industry, investment fund in energy storage industry; research and development of energy storage technology, etc.

In response, Guangzhou Development said in the announcement that the establishment of the Energy Storage Group is to fully implement the spirit of the Provincial and Municipal Conference on High-quality Development and the Guiding Opinions on Promoting the High-quality Development of New Energy Storage Industries in Guangdong Province, seize the opportunities for the development of energy storage industries, give full play to the organic combination of industrial capital and industrial chain, and gather the industrial base of municipal state-owned enterprises. Quickly land new infrastructure construction and operation, and efficiently build energy storage industry cluster.

From the perspective of shareholder structure, the Energy Storage Group has six shareholders, namely, Guangzhou Industrial Investment Holding Group Co., Ltd. Guangzhou Development Group Co., Ltd., Guangzhou Industrial Investment Holding Group Co., Ltd., Guangzhou Metro Design and Research Institute Co., Ltd., Guangzhou Penghui Energy Technology Co., Ltd., and Guangzhou Zhiguang Electric Co., Ltd. The main investors are local state-owned enterprises, supplemented by private capital. The proportion and method of capital contribution of the six companies are as follows:

After the establishment of the Energy Storage Group, Guangzhou Industrial Investment will sign the Entrustment Agreement, and Guangzhou Industrial Investment will entrust the Company to exercise its shareholders' voting rights and directors' nomination rights. The Company will have actual control over the Energy Storage Group, and the Energy Storage Group will be included in the scope of consolidation of the Company's consolidated financial statements.

In the future, the Company will continue to vigorously develop green and low-carbon integrated smart energy business. It is planned that by the end of the 14th Five-Year Plan, the proportion of green and low-carbon energy will exceed 75%, and there will be business demand for power side energy storage, grid side energy storage and user side energy storage.


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By the end of the 14th Five-Year Plan, green low-carbon energy accounted for more than 75%, and there were business needs for power side energy storage, grid side energy storage and user side energy storage.

2023-06-19 14:35:53