21 February 2024, Singapore & Shanghai, China — SP Group (SP) is expanding its portfolio of solar assets in China with its latest move to acquire 75 Megawatt Peak (MWp) of rooftop photovoltaic (PV) assets from Pufeng Xunlian Investment (Shanghai) Co., Ltd. Both companies completed the transaction of 75 MWp of distributed PV projects for a total equity consideration of over S$18 million (more than RMB 100 million). These rooftop PV assets are located across the provinces of Anhui, Guizhou, Hebei, Heilongjiang, Henan, Hubei and Shanxi, and installed at over 15 industrial sites, covering automobile parts, battery manufacturing, food and beverage and metal fabrication. The 75 MWp of rooftop PV assets will provide more than 75 Gigawatt Hours (GWh) of clean electricity in China annually. This will help China avoid more than 44,000 tonnes of carbon emissions each year. The acquisition is in line with SP’s strategy to enable the sustainable development and decarbonisation of the industrial sector, helping energy-intensive manufacturing facilities reduce their energy consumption and carbon footprint. Mr Michael Zhong, Managing Director, China, SP Group said: “The addition of these assets to our portfolio furthers our commitment to promote the growth of renewables and empower a clean energy future for China. Leveraging our full-service sustainable energy solutions suite and advanced operational capability, we aim to optimise the efficiency of our portfolio to bring economic benefits to our industrial customers and support their transition to low carbon energy.” SP Group has been growing its base, providing a suite of sustainable energy solutions to customers across Asia Pacific. To date, SP has secured a total 1.3 Gigawatt of solar projects in China. This acquisition will further advance SP's renewable strategy with growing solar investment footprints across 18 provinces and municipalities, targeting commercial estates and industrial parks.

About SP Group
SP Group is a leading utilities group in the Asia Pacific, empowering the future of energy with lowcarbon, smart energy solutions for its customers. It owns and operates electricity and gas transmission and distribution businesses in Singapore and Australia, as well as sustainable energy solutions in Singapore, China, Thailand and Vietnam. As Singapore’s national grid operator, about 1.6 million industrial, commercial and residential customers benefit from its world-class transmission, distribution and market support services. These networks are amongst the most reliable and cost-effective worldwide. Beyond traditional utilities services, SP Group provides a suite of sustainable and renewable energy solutions such as microgrids, cooling and heating systems for business districts and residential townships, solar energy solutions, electric vehicle fast-charging stations and digital energy solutions for customers in Singapore and the region. For more information, please visit spgroup.com.sg or follow us on Facebook at spgrp.sg/facebook, LinkedIn at spgrp.sg/linkedin and Instagram at spgrp.sg/Instagram.