A Znshine Solar announced a partnership with Chinese state-owned company SPIC to boost business in the photovoltaic segment. According to the manufacturer, the focuses are residential and commercial projects, storage and integrated smart energy management.
“This cooperation will be a new milestone for Znshine, as SPIC is one of the most powerful and influential state-owned enterprises in China, which has a huge financial base and world-class technology. Such an agreement will stimulate the company's photovoltaic projects to another new level”, said the company in a statement.
The JV (joint venture) between the companies is called Shanghai Nengke ZNShine Energy Company Limited, in which ZNShine has 49% of the shareholders. The headquarters is in Shanghai and the registered capital is RMB 500 million.
“The JV will develop more photovoltaic projects later, with strong support from SOE in all aspects – financial support, innovative technology, global network, etc.”, highlighted the manufacturer, adding that this cooperation will strengthen future business in the domestic market.
“With the rapid pace of new energy development in China, Znshine will benefit from the country's supportive policy and the business will grow continuously,” the company concluded.
Read more: ZNShine Solar launches 585W panels with graphene technology
About SPIC
SPIC ranked 293rd among the Fortune Global 500 in 2021, with its businesses covering 46 countries. The state-owned company has 130 employees and 62 subsidiary entities, including five listed in mainland China, one listed in Hong Kong SAR and two on the National Equities Exchange and Quotations.
