New energy plant settles in Nantong FTZ

Hong Kong and China Gas Company Ltd, or Towngas, recently established a new energy subsidiary in the Nantong Free Trade Zone, located in Nantong city in East China's Jiangsu province.

Towngas, which mainly runs a city gas distribution business, has invested about $100 million in Nantong Gangdian Smart Energy Co Ltd in the Nantong FTZ.

The company aims to develop and manufacture green energy technology, such as solar panels, energy storage units, and charging batteries.

In the wake of the new energy project, the Nantong FTZ is expected to beef up its efforts to develop itself as a low-carbon park in line with the country's goals of carbon peak and neutrality.

The solar panels being made by Nantong Gangdian Smart Energy Co Ltd generate power – using devices that absorb energy from sunlight and convert it into electrical energy through semiconductor materials. [Photo provided to NETDA]