SP Group (SP) inked a 20-year deal in 2015 to design, build, own and operate a district heating and cooling system for CapitaLand's Raffles City Chongqing, an iconic integrated development comprising a shopping mall, a hotel, office towers, residences and service residences.
SP's operations commenced in September 2019, enabling Raffles City Chongqing to reduce energy consumption by more than 40 per cent, compared to conventional building chiller plants.
In 2021, SP Group acquired a 40 per cent stake in Sino-French Energy Services Co. Ltd (SFES) in Chongqing. This is SP's first acquisition of energy assets in China, growing the company's China presence with sustainable energy solutions.
SFES is the market leader for Combined Cooling Heating and Power (CCHP) solutions in Chongqing. It operates CCHP solutions deployed in three of the city's hospitals as well as a district cooling and heating plant that serves the Chongqing Danzishi Central Business District.
The acquisition strengthens SP's district cooling and heating presence in Chongqing and expands our capabilities in CCHP offerings as we grow our sustainable energy solutions in China.
SP Group is working with the Sino-Singapore Guangzhou Knowledge City Investment and Development Co. Ltd to provide district cooling and heating, and smart energy solutions at the China-Singapore Guangzhou Knowledge City (GKC).
The implementation of district cooling and heating networks, and other sustainable energy solutions such as solar, energy storage, energy efficiency and integrated energy management systems will enable GKC to enjoy substantial energy and cost savings. This will translate to a cleaner and more sustainable energy future for GKC and for Guangzhou city.