On the evening of November 29, Kibing Group (SH: 601636) announced that Chenzhou Kibing Photovoltaic & Electronic Glass Co., Ltd. (Chenzhou Photovoltaic), a wholly-owned subsidiary of the company, plans to establish a sub-subsidiary named Zhangzhou Kibing New Energy Technology Co., Ltd. to become a distributed energy turnkey solutions provider.
Source: Kibing Group
The sub-subsidiary will be dedicated to the development of rooftop solar projects to make full use of rooftop resources of the factories. The company can generate electricity for self-consumption, reduce energy consumption and electricity cost.
The company has set up a new energy business segment to produce photovoltaic materials. Investing in rooftop solar while producing photovoltaic glass is one of the company’s efforts to expand its business downstream in the solar PV industry.
