ENGIE now becomes the sole owner of Ningbo Sennuo Investment Co., Ltd., after it acquired the remaining 50 percent of the company’s shares in August 2019. The transaction made Sennuo become ENGIE’s first wholly-owned onshore investment platform in China, signaling a milestone in ENGIE’s exploration of the country’s tremendous market potential.
Charlotte Roule, CEO of ENGIE China, declared, “The full ownership of Sennuo represents for ENGIE the opportunity to further tap into the world’s biggest and most promising renewable energy market. It demonstrates the ambition of ENGIE to be the world leader in cost-efficient zero-carbon transition ‘as a service’”.
The previous acquisition of 50 percent of Sennuo’s shares took place in November 2018. Sennuo then contributed to ENGIE China’s acquisition of 34 operational distributed rooftop PV assets, serving green power to 34 factories for Wahaha Group, China’s No.1 food & beverage manufacturing enterprise. The project is deemed to be one of the world’s largest distributed rooftop PV initiatives.
Now, wholly owned by ENGIE, Sennuo has facilitated ENGIE China’s partnership with Unilever, one of the world’s leading consumer goods provider, to serve green distributed solar PV generation to Unilever’s logistics park and industrial park, a part of the two giants’ cooperation in the development of renewable energy. This project will enable ENGIE to establish direct connections with customers and lay the foundation for providing integrated energy services in the future.