Changfeng Energy Inc. (Here on Changfeng), an energy provider in China, announced today that it has established a controlled subsidiary, Hebei Riheng Clean Energy Ltd. (Riheng Energy) in Shijiazhuang, Hebei, China to carry out gas distribution services and clean energy related projects in Hebei Province (PRC).
Grabbing the opportunities provided by PRC Government’s energy reform
Due to the Central Chinese Government’s energy reform policies aimed to phasing out coal gas usage and transforming China into a natural gas driven economy, the Hebei based factories and industry parks were forced to replace coal with natural gas.
Moreover, some of the Hebei based factories were forced to move out of the cities to remote areas where no gas pipeline is accessible. Therefore there’s a huge market opportunity for energy firms able to supply liquefied natural gas (‘LNG’) to the Hebei factories and industrial parks.
The province has experienced a severe shortage of natural gas in the latter half of 2017 and this natural gas shortage situation is expected to continue in the future.
Hebei Province is located in the north China Plain, north of the lower reaches of the Huanghe (Yellow) River. At the the Bohai Sea the East region of the province has a 500 Km.
The whole province is 190,000 square kilometres wide and is inhabited by approximately 74.7 million people.
Shijiazhuang is capital city of this province.
Other two strategical movements in China
The establishment of Hebei Riheng Clean Energy Ltd. folows other two strategical movements by Changfeng in the Chinese market. In November 2017 the company signed a joint venture between Changfeng’s wholy owned subsidiary Sanya
Changfeng New Energy Investment Co., Ltd. and EDF (China) Holding Ltd. a wholly owned subsidiary of the EDF
Group. The name of this 05-50% joint venture is Sanya EDF Changfeng Energy Management Co., Ltd. and it is aimed to invest, construct, and operate four energy-processing stations to supply cooling, hot water to the hotels, shopping
centers, and residential households in Haitang Bay area (Hainan Province.
The second movement was announced on December 2017. Sanya Changfeng New Energy Investment Co., Ltd, entered into
a memorandum of understanding (MOU) with China Overseas Energy Co., Ltd., the wholly owned subsidiary of China Overseas Holdings Ltd to jointly pursue integrated smart energy
projects in the People’s Republic of China.
Canadian based company but top chinese brand operating in PRC
Changfeng Energy Inc. is a Canadian public company currently traded on the Toronto Venture Exchange (“TSX-V”) under the stock symbol “CFY”. It is an integrated energy provider and natural gas distribution company (or natural gas utility) in the People’s Republic of China.
Changfeng strives to combine leading clean energy technology with natural gas usage to provide sustainable energy to its customer base in the PRC.
In 2009, Changfeng was recognized within the Top Ten Most Influential Brands in the Natural Gas Industry operating in the PRC.
Image over the headline.– Changfeng natural gas plant. © Changfeng.