On September 15, Longyuan Power and Sungrow signed a strategic cooperation agreement in Hefei. Jia Yanbing, Chairman and Party Secretary of Longyuan Power, and Cao Renxian, Chairman of Sungrow, attended the signing ceremony and delivered speeches respectively. Jin Ji, Longyuan Power’s Deputy General Manager, and Zhang Xucheng, Sungrow’s Vice Chairman, signed the strategic cooperation agreement on behalf of both parties. Senior executives of both parties were present in the above scene.
According to the agreement, the two parties will, based on the principle of "strategic synergy, complementary advantages, mutual benefit, and common development", dynamically integrate Longyuan Power’s financial advantages and large-scale operation advantages with Sungrow’s market management and professional technical advantages; following the market pricing principles, both parties will establish a long-term cooperation mechanism, and promote comprehensive and multi-level strategic cooperation.
Jia Yanbing said that in recent years, Longyuan Power has been accelerating the pace of high-quality development focusing on the general goal of "building a world-class new energy company with global competitiveness", and has kept leading among domestic and even global new energy operators for a long time. As a leader in the development of photovoltaic power plants and inverter manufacturing in China, Sungrow owns strong technical strength and rich experience in development and operation in the photovoltaic field. It is a strategic partner with a high sense of identity, high matching and high synergy that Longyuan Power has been always longing for. The cooperation between the two parties featuring solid foundation, huge potential and broad prospects, has been highly recognized by the group company. Meanwhile, he wished both parties could accelerate the promotion of pragmatic cooperation in new energy projects, distributed photovoltaics, and energy storage at home and abroad, achieve high-quality development of both parties, and make new and greater contributions to the development of the global new energy industry.
Zhang Xucheng said that Sungrow was established in 1997 and it has now grown into a national key high-tech enterprise focusing on the production of photovoltaic inverters and energy storage systems, as well as the development of photovoltaic power plants and smart energy operation and maintenance services. At present, Sungrow has strong technical and practical capabilities in distributed, subsided mining, and floating photovoltaic power plants projects, agricultural and solar complementary projects, fishing and solar complementary projects, photovoltaic sand control projects, and comprehensive utilization projects of new energy, etc. In the future cooperation, Sungrow will advance hand in hand with Longyuan Power to promote the high-quality development of enterprises, share the development opportunities of new energy in the era of parity grid, create a model of mixed ownership reform and innovation cooperation, and contribute to the further development of the photovoltaic industry.
During the signing ceremony, the two parties also signed a pre-purchase agreement for some photovoltaic power plant projects.
Heads of relevant departments of Sungrow Power, heads of relevant departments and regional companies of Longyuan Power attended the signing ceremony.