Savosolar signs MOU in China

The agreement concerns co-operation in building a demonstration project of micro-energy network complemented with renewable energy in Nansha, Guangzhou. Altogether, GZPS is responsible for the power supply and service of 11 districts in Guangzhou and supplies power to 5.8 million households.

Recently, the Chinese government has developed a comprehensive strategy for transitioning from fossil energy consumption to sustainable energy consumption. The agreement is an example of Savosolar’s strategic intent to be an active player in the vast renewable energy market in China.

“[The MOU] also shows that the work we have done and are doing in China on several fronts is step by step bringing positive results,” said Savosolar CEO Jari Varjotie. “We believe this demonstration project could be first of many and it also supports the understanding of the high potential of the Chinese market for large-scale solar thermal systems.”

The size of the potential demonstration project is still undetermined.