According to EnergyTrend, Sunwoda has recently rolled out two important strategic moves. Following the establishment of a new subsidiary, the company announced that its wholly-owned subsidiary Shenzhen Xinneng Industrial Development Technology Co., Ltd. will jointly set up a private equity fund for energy storage assets with Yuanzhi Energy Storage, the New Energy Storage Industry Fund and TianJian Investment.
RMB 50 Million Invested to Establish a New Subsidiary
According to Qichacha, Shenzhen Sunwoda Energy Service Co., Ltd. was founded on January 23, with Wang Wei as its legal representative and a registered capital of RMB 50 million.
The new company is wholly owned by Sunwoda, and its business scope includes investment with self-owned funds, power generation technology services, leasing of photovoltaic and wind power generation equipment, as well as the operation of charging and swapping facilities for electric vehicles, among others.
RMB 100 Million Subscribed to Co-Found an Energy Storage Fund
On January 28, Sunwoda issued an announcement stating that its wholly-owned subsidiary Shenzhen Xinneng Industrial Development Technology Co., Ltd. (Xinneng Technology) will jointly establish a private equity fund for energy storage assets with Yuanzhi Energy Storage, Shenzhen New Energy Storage Industry Equity Fund Partnership (LP) and TianJian Investment.
It is reported that the total scale of the fund is RMB 500 million. Xinneng Technology has subscribed RMB 100 million, accounting for a 20% stake; Shenzhen New Energy Storage Industry Equity Fund Partnership (LP) has subscribed RMB 199 million, accounting for 39.80%; TianJian Investment has subscribed RMB 200 million, accounting for 40%; and Yuanzhi Energy Storage has subscribed RMB 1 million, accounting for 0.20%. All the above capital contributions are made in RMB currency.
The fund’s capital will be mainly invested in electrochemical-based new energy storage power stations, solar-storage-charging integrated stations and energy management systems, as well as the upstream industrial chain of the power station sector. Sunwoda stated that the joint establishment of the partnership by its wholly-owned subsidiary and professional investment institutions aims to leverage the resources of professional institutions to expand the layout of new energy storage businesses.
This investment is synergistic with Sunwoda’s core business, which is conducive to the company exploring new paths for the coordinated development of the new energy storage industry chain. Relying on Sunwoda’s industrial capabilities and asset operation capabilities, the company will promote its transformation into an energy technology enterprise through a closed-loop model of "Assets + Operation + Industry", expand its energy storage business and enhance its comprehensive competitiveness. This move is in line with the company’s strategic development needs and the interests of all shareholders. The fund is financed by the company’s self-owned funds and will not affect its normal business operations, yet there exist uncertainties regarding the fund’s filing and future returns.
Source：EnergyTrend