China Southern Power Grid and Guangdong Energy Group jointly invest in energy storage company

On the evening of September 19, China Southern Power Grid Technology announced that it would invest 200 million yuan to jointly invest with Guangdong Energy Group to establish Guangdong Energy Storage Industry Development Co., Ltd., focusing on energy storage asset investment and equity investment business. The new company has a registered capital of 2 billion yuan and is planned to be located in Nansha District, Guangzhou. Guangdong Energy Group will hold 90% of the shares and China Southern Power Grid Technology will hold 10%. This investment is seen as a key step for China Southern Power Grid Technology to improve its industrial layout and enhance its core competitiveness, which will help it establish cooperative relationships with important energy companies, expand its business scale, and enhance its industry status and comprehensive strength.