ENGIE steps in the Solar Activity in China

ENGIE steps in the Solar Activity in China

ENGIE signed today in Shanghai an Agreement for a 30% equity investment through capital increase in UNISUN, a solar photovoltaic (PV) company.

Since 2014, UNISUN has successfully developed around 500 MW PV projects, showing strong technical capacity.

During COP21, China pledged to peak its carbon emissions in 2030 or earlier; the country shall subsequently increase the share of non-fossil energy from 13% to 20% in its energy mix by then. ENGIE, global energy player with the ambition to be leader of the energy transition, is proud to contribute to Chinese renewable energy development and to support the transformation of China into a low-carbon economy.

ENGIE aims to support UNISUN in the field of photovoltaic business’ development, ownership, operation, as well as smart energy management in China. Forecasting fast growing business, UNISUN targets a development of around 4 GW PV projects (cumulated capacity) by 2020 in China.

Ms. He Yisha, president of UNISUN, stated: “The investment by the energy giant ENGIE into UNISUN demonstrates that the innovative business model and comprehensive service capacity of UNISUN is highly recognized. ENGIE’s strong support, in terms of experience, technology and resources will lead to a comprehensive upgrading of UNISUN capacity to achieve its vision to be a competent, innovative and integrated energy provider”.

Ms. Charlotte Roule, acting CEO and COO of ENGIE China declared: “This investment into UNISUN, which develops both projects of production on wholesale electricity market and projects for BtoB clients, represents for ENGIE the opportunity to step in the world biggest and most promising renewable power market. It demonstrates once again the ambition of ENGIE to be leader of the energy transition in the world”.