Examples of XYS Group in a sentence
On the other hand, in response to the PRC government policy for the renewable energy generation facilities to equip with energy storage systems, the XYS Group also plans to install energy storage systems in the solar farm projects developed and constructed by it.
The selling prices and markup percentage under the Sales Framework Agreements are subject to review by the management of the relevant department of the Group and the XYS Group (under the XYS Sales Framework Agreement) and the XYG Group (under the XYG Sales Framework Agreement) on a regular basis.
As of the date of the Joint Announcement, no energy storage systems have been installed at any solar farm projects of the XYS Group as all electricity can be sold to the local grid companies without any curtailment.
The XYS Directors therefore expect that the policies requiring installation of energy storage systems will be gradually implemented by the PRC government at selected provinces/municipalities and that the XYS Group would be required to install the energy storage systems at its solar farm projects.
Pursuant to the “Outline of the 14th Five-Year Plan for National Economic and Social Development of the People’s Republic of China and the Long-Range Objectives Through the Year 2035” (中華人民共和國國民經濟和社會發展第十四個五年規劃和 2035年遠景目標綱要) passed by the National People’s Congress in March 2021, solar farms in certain provinces/municipalities in the PRC, where some of the solar farm projects of the XYS Group are situated, are encouraged to install energy storage systems.
The XYS Group is principally engaged in the production and sales of solar glass products, which are carried out internationally, through its production facilities in the PRC and Malaysia.
Given that the Company’s established relationship with Xinyi Solar, its experience, market position, and the fact that Xinyi Solar is the Company’s holding company, it will be in the interest of the Company to continue to source construction completed and grid-connected utility-scale ground-mounted solar farm projects from the XYS Group.
In addition, the XYS Group is also engaged in the development and operation of solar farm projects and the engineering, procurement and construction services.
The XYS Group and the XYG Group currently use loading machines for transportation and transfer of a wide range of glass products.
Pursuant to the Solar Farm Agreement, the Company was granted the Call Option and the Solar Farm ROFR to acquire, on a preferential basis, the Call Right Assets i.e. the solar farm projects constructed or developed by Xinyi Solar which have substantially completed construction and are grid-connected to achieve further business delineation between the Group and XYS Group.