Zhongshan Public Utilities Group's Board of Directors passed two proposals on March 11.

The two proposals are to establish the Guangfa Xinde New Energy Industry Fund, with a total amount of 3 billion yuan, ZPUG holding 50% of that; to establish Zhongshan Public Utilities Group Environmental Protection Industry Investment Co Ltd, a joint venture and wholly-owned subsidiary of ZPUG, together with Changzhou EGing Photovoltaic Teconology Co Ltd (EGing PV),  a holding subsidiary of EGing Photovoltaic Technology Co Ltd, with the investment and operation of distributed photovoltaic power stations as its main business. The above mentioned Public Environmental Protection Investment Co will contribute 70 million yuan, accounting for 70% of the registered capital.

Following official development strategies, ZPUG will actively expand into the new energy industry to facilitate new business growth. Establishing the joint venture of photovoltaic power industry with EGing PV is an important measure for ZUG to make development in the new energy industry.