The greenergy sector, a new business sector of Everbright Environment, has a keen focus on energy-saving lighting for urban roads and other energy conservation industries.
In 2019, Everbright Environment and Beijing Jinglang Photoelectric Technology Co., Ltd. signed a cooperation agreement to jointly establish Everbright Brilliant Greenergy and Lighting (Shenzhen) Limited ("Everbright Greenergy"), a joint venture company in which Everbright Environment holds a 60% equity stake. The establishment of Everbright Greenergy marked Everbright Environment's entry into the new era for energy-saving technologies and services. Everbright Greenergy focuses on the research and development ("R&D") and manufacturing of energy-saving streetlights, urban outdoor lighting projects and other types of energy-saving lighting products, offering comprehensive lighting solutions to conserve energy and reduce emissions. By providing such services, Everbright Greenergy aims to realise smart lighting through the intelligent control of outdoor lighting devices, as well as environmentally friendly lighting through the research and improvement of electric parameters when it comes to light sources. Everbright Greenergy began its business with the launch of its major product, Everbright Greenergy New Sodium Lamp. It is devoted to facilitating cities and regions to fully upgrade their energy-saving lighting networks based on different models, such as the energy management contract ("EMC") model or direct purchases. Leveraging on its advantages in technology, talent, capital and brand, Everbright Greenergy intends to enter the market by offering upgrades to the traditional high-pressure sodium lamps across the country. By integrating R&D, manufacturing, sales and the EMC model, Everbright Environment will explore a "triple-win" situation where three parties benefit as they help government authorities to save on budget, benefit the public, and also generate profit for the business.
The greenergy sector signed a strategic cooperation agreement with the Rizhao Municipal Government of Shandong Province on the EMC project for retrofitting energy-saving streetlights in Rizhao City, marking the successful launch of the first project of the greenergy sector, and the first cooperation with local governments using the EMC model. The project, invested in and constructed by Everbright Greenergy, involves approximately retrofitting 13,000 energy-saving streetlights. The completion of the project will see a significant improvement in lighting and save more than 45% of electricity. The government does not need to expend their budget to in the project while they share the benefits of energy conservation with enterprises. In addition, the greenergy sector undertook the energy conservation, retrofitting and regular maintenance of 122,000 streetlights in Ji'nan, Shandong Province. At the same time, the greenergy sector invested in setting up energy-saving streetlight production and R&D bases in Ji'nan. A number of demonstrative street areas have been successfully installed with Everbright Greenergy New Sodium Lamp in major cities such as Beijing, Shenzhen, Nanjing, and Hangzhou, boosting the brand awareness of the Everbright Greenergy New Sodium Lamp.