Bi Yaxiong Meets with CEO of Luxembourg-based Encevo

Guangzhou - Mr. Bi Yaxiong, Vice President of China Southern Power Grid (CSG), met with a visiting European delegation led by Mr. Claude Seywert, Chief Executive Officer of Luxembourg-based Encevo.

In October 2018, CSG successfully acquired a 24.92% investment stake in Encevo and Mr. Bi said that the follow-up of the delivery of equity is “under way in an efficient manner and CSG is willing to contribute to the operation and development of Encevo”.

The two parties held in-depth discussions on operation and management, after the delivery of equity, and the development and application of new energies and energy storage technologies.

Mr. Bi said, “distributed energy resources could not be developed without energy storage systems. Energy storage can reduce the load peak and off-peak difference and cut power supply costs. Apart from improving traditional grids, it can also prevent major disasters with low probability and enhance the reliability of power supplies”.

Mr. Seywert praised CSG’s research and practice in energy storage and microgrid, focusing on CSG’s efforts in “ensuring the safe and stable performance of grids with multiple new energies”.

He added, “Encevo actively expands businesses in electric vehicles, energy efficiency management, distributed energy resources and intelligent application.

Mr. Seywert hoped that both parties could continue to advance the operation and management after the delivery of equity so as to lay a “firm foundation for our future cooperation and development”.