Energia
Savosolar and Guangzhou Power Supply have signed MOU for a demonstration project
Savosolar Plc
Company Announcement 21 November 2018 at 2.00 p.m. (CET)
Savosolar has signed a Memorandum of Understanding (MOU) with Guangzhou Power Supply Co., Ltd. which is a wholly-owned subsidiary of China Southern Power Grid Co., Ltd. China Southern Power Grid Co., Ltd. ranked 110th on the 2017 Fortune Global 500 list, with a latest fiscal year revenue of $72.8 billion. The MOU concerns co-operation in building a demonstration project of micro-energy network complementary with renewable energy in Nansha, Guangzhou. Considering this is still an MOU, the size of the potential demonstration project is still unclear.
Jari Varjotie, Savosolar CEO: We are extremely happy to sign the MOU with Guangzhou Power Supply. The Chinese government has developed a massive plan for converting fossil energy consumption to sustainable energy consumption. This MOU is an example of Savosolar's strategic intent to be an active player in the vast China market of renewable energy. It also shows that the work we have done and are doing in China on several fronts is step by step bringing positive results. We believe this demonstration project could be first of many and it also supports the understanding of the high potential of the Chinese market for large scale solar thermal systems.
SAVOSOLAR PLC.
Savosolar Plc
Managing Director Jari Varjotie
Phone: +358 400 419 734
E-mail: jari.varjotie@savosolar.com
This company announcement contains information that Savosolar Plc is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication by aforementioned contact person on 21 November 2018 at 2.00 p.m. (CET).
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