PVTIME – This week, Power grid operator SPIC Jilin Province Electric Power announced its intent to establish two wholly-owned subsidiaries – Guangxi Jilin Province Electric Power & Siping Jilin Province Electric Power Energy Development Company Limited.
The proposals for the establishment of the aforementioned subsidiaries were reviewed and approved by its Board of Directors during the company’s 22nd meeting on September 16. The registered capital for the subsidiaries would be 50 million yuan each. This transaction does not need to be submitted to the general meeting of shareholders for deliberation, and it still needs to be registered with the local industry and commerce department.
According to the announcement, the company plans to develop and construct centralized photovoltaics, distributed photovoltaics, integrated smart energy, energy storage, hydrogen power plants, and incremental power distribution networks in Guangxi Province as well as Siping City and its surrounding areas in Jilin Province. The establishment of these subsidiaries will help promote the implementation of the projects, accelerate the pace of the company’s clean energy transformation and development, and increase the company’s influence in the energy industry in the provinces.
