SP Group Partners State Grid Chongqing Integrated Energy Service to Develop Greener and Smarter Buildings

SINGAPORE,March 17,2021 -- SP Group (SP) and State Grid Chongqing Integrated Energy Servicesigned a Memorandum of Understanding (MoU) today,to jointly develop integrated energy projects that deliver smart,efficient energy management solutionsto meet the evolvingoperational needs and green targets of customers in Chongqing,China.

The signing was witnessed by SP's Group Chief Executive Officer,Mr Stanley Huang,and State Grid Chongqing's Chairman,Mr Chen Liankai.

State Grid Chongqing Integrated Energy Service,a subsidiary co-owned by State Grid Integrated Energy Service Group and State Grid Chongqing Electric Power Company,is responsible for advancinginvestments,innovation and implementation of energy-efficient solutions and technology through research,building and operational management of energy storage,renewable energy and electricity distribution network projects. The company aims to reduce the cost of energy supply,improve the efficiency of energy utilisation and provide customers with a comprehensive suite of clean energy solutions.

SP's Group Chief Executive Officer,said,"Through our partnership with State Grid Chongqing,we will leverage our combined resources,strengths and domain knowledge to develop sustainable energy solutions customised for customers in China. Chongqing is a key economic,trade and financial city in China and one of strategic importance to us. We are committed to help the city achieve its carbon emissions targets and meet increasingly sophisticated operational demands on its buildings."

State Grid Chongqing's Chairman,Mr Chen Liankai,"State Grid Chongqing Integrated Energy Services is a key platform for State Grid Chongqing to implement its mandate to build world-class smart grid enterprises. Our objective is to support the city in reducing energy consumption and carbon emissions,and building a better future based on sustainable growth. We value this partnership with SP given its strong footprint in Chongqing,and the success of Raffles City Chongqing's energy-efficient cooling and heating system. We look forward to leveraging our combined strengths to drive innovation and capabilities towards carbon neutrality."

In Chongqing,SP Group invested,designed,and operates Raffles City Chongqing's energy-efficient cooling and heating system since 2019 to deliver energy savings for the customer. In January 2021,SP Group also acquired a 40 per cent stake in Chongqing Sino-French Energy Services which expanded the Group's capabilities into Combined Cooling Heating and Power offerings for Chongqing. SP Group currently has three offices in China (Shanghai,Guangzhou and Chongqing),with its China headquarters located in Shanghai.

About SP Group

SP Group is a leading utilities group in the Asia Pacific,enabling a low-carbon,smart energy future for its customers. It owns and operates electricity and gas transmission and distribution businesses in Singapore and Australia,and sustainable energy solutions in Singapore and China.

As Singapore's national grid operator,about 1.6 million industrial,commercial and residential customers benefit from its world-class transmission,distribution and market support services. These networks are amongst the most reliable and cost-effective world-wide.

Beyond traditional utilities services,SP Group provides a suite of sustainable energy solutions such as cooling and heating systems for business districts and residential townships,electric vehicle fast charging and green digital energy management tools for customers in Singapore and the region.

For more information,please visit spgroup.com.sg or follow us on Facebook at fb.com/SPGroupSG,on LinkedIn at spgrp.sg/linkedin and on Twitter @SPGroupSG.