Shanghai Electric and Schneider Electric jointly signed a Joint Venture Agreement for the establishment of Shanghai Electric Architecture Saving Co. Ltd
Shanghai Electric and Schneider Electric hosted a signing ceremony on 16 February 2012 for the establishment of a joint venture - Shanghai Electric Architecture Saving Co. Ltd., in which Shanghai Electric Group Company Limited holds a 55% equity interest and Schneider Electric (China) Co., Ltd holds the remaining 45% of the registered capital. The management and technology teams are jointly formed by both parties.
The joint venture was established with an aim to improve energy efficiency of buildings in Shanghai, to strengthen bilateral cooperation in areas of market, technology and management, and in providing building energy saving solutions and related services to our clients. The joint venture will specialize in building energy-efficiency business through subcontracting energy management works for large-scale building energy saving projects and related restructuring works in Shanghai.