China’s largest property developer by sales, Country Garden Holdings has made further inroads into the clean energy sector with the launch of a photovoltaic cell and power storage project located in Shanghai, reports Caixin.
Country Garden said construction of the solar power project started in late September. The venture will be run by a new energy company established by the investment arms of Country Garden and state-owned conglomerate China Poly Group Corp in June.
The startup will build distributed photovoltaic cells on the roof of a Shanghai printing plant and install equipment to store the solar-generated electricity as well as charging piles to utilize the power, the statement said.