(Yicai Global) Sept. 13 -- Shares of Yuneng Holdings jumped to a two-month high after the Chinese thermal power firm said it will join hands with Huawei Technologies to build solar energy projects that are managed digitally.
Yuneng's stock price [SHE: 001896] rose by the daily limit of 10 percent to CNY8.21 (USD1.30), the highest since July.
The energy company has penned a strategic cooperation framework agreement with Huawei to promote the use of digital technology via pilot solar panel projects mounted on rooftops across central China's Henan province, the Zhengzhou-based firm said in a statement yesterday, without disclosing any financial details about the investment plan.
The partnership is in line with China's goals of carbon neutrality and rural revitalization, and should enhance Yuneng's profitability and sustainable development, it added. In September 2020, President Xi Jinping said the world's second-largest economy aims to have net-zero carbon dioxide emissions by 2060.
The cooperation involves cloud computing. The Shenzhen-based telecoms giant will help Yuneng build a reliable cloud platform to operate and maintain the projects, according to the statement. The platform should be connected to electricity distribution and carbon credit trading systems.
Moreover, the pair will cooperate on energy-saving technologies and local data centers' electricity supply systems, per the statement.
Editor: Emmi Laine, Xiao Yi