NINGBO, China, May 2, 2019 /PRNewswire/ -- Chinese solar module manufacturer Risen Energy Co., Ltd. recently announced a strategic partnership with Providence Asset Group. The two parties signed an agreement whereby they will collaborate on investment and on the development of solar photovoltaic (PV) power projects. This partnership will provide Risen Energy with strong financial support, helping the company accelerate its expansion into overseas markets.
With the world's energy sector increasingly shifting to highly efficient, clean, low-carbon and diversified solutions, Chinese energy firms are expanding beyond the home market. With innovative and high-efficiency technologies, and significant, competitive cost advantages, Risen Energy has become a key power leading the transformation of the industry. Risen Energy has recognized that to maintain the pace of its global expansion, it needs an abundant pool of capital and dedicated management of those financial resources.
"Providence Asset Group is an innovative investment and asset management company with strong capabilities in the management of capital and a comprehensive financial service system", Risen Energy chairman Lin Haifeng said as he commented on Risen Energy's strategic cooperation with Providence Asset Group. "This partnership will provide strong financial support for us as we expand beyond the borders of our home country, further delivering on our promise to provide users worldwide with professional, highly efficient and environmentally responsible PV power solutions."
Looking forward, the two companies plan to establish a partnership with the University of New South Wales, Australia, for the development of the CRC-P R&D and funding projects, in addition to collaborating on the development of new energy storage facilities and the construction of smart cities. "We are thrilled to be signing an agreement on the CRC-P project, as we expect the partnership to provide us with the capital support necessary to develop solar power projects in Australia in the future," added the chairman, Mr. Lin. "In addition, PV energy will play a key role in tomorrow's energy sector and provide key technological support for the construction of low-carbon smart cities. As a result, we plan to fully integrate superior industry resources to accelerate expansion into new frontiers, especially in photovoltaic energy, while further promoting the high capacity and large-scale application of energy storage in the renewable energy sector."