SP Group (SP) has announced a strategic alliance with CMB Financial Leasing Co., Ltd., through its wholly-owned subsidiary, Shirui Energy Technology (Shanghai) Co., Ltd. This partnership aims to provide competitive financing services to support SP Group’s deployment of renewable energy solutions in China.
The collaboration between SP and CMB Financial Leasing is projected to reach up to RMB ￥8 billion (approximately SGD $1.53 billion) over the next three years. The focus will be on SP’s target cities and projects, including utility-scale solar farms, distributed solar photovoltaic (PV) systems, energy storage, and district cooling and heating.
Through this alliance, SP will benefit from CMB Financial Leasing’s diverse products, financial advisory services, and an efficient approval process that exceeds industry standards. This will enhance SP’s asset liquidity and optimize its asset structure.
Ms. Loong Hui Chee, Chief Financial Officer of SP Group, stated, “SP Group is committed to empowering a clean energy future for China through our investments in renewables and energy efficiency projects. We are pleased to partner with CMB Financial Leasing and leverage their financing expertise to support the expansion of our investment footprint across over 18 provinces and municipalities. We look forward to working with like-minded financiers in our long-term commitment to advance the clean energy transition.”
Mr. Zhang Cheng, Party Secretary of CMB Financial Leasing Co., Ltd., commented, “CMB Financial Leasing is dedicated to becoming a leading financing partner for the energy infrastructure sector, supporting global clean energy development through innovative financing solutions. Our strategic partnership with SP Group is our first collaboration with an energy solutions company under a foreign sovereign wealth fund and marks a significant milestone for the entire industry.”
This partnership underscores both companies’ commitment to advancing renewable energy projects and contributing to China’s clean energy transition.
