According to the Statement, the Sanya Municipal Government, EDF Group and Changfeng, will cooperatively develop the integrated energy system projects in order to promote a low carbon and energy intelligent urban city. The Sanya Municipal Government is also in support of an integrated energy project in Haitang Bay Area of Sanya City as proposed by EDF Group and Changfeng. Changfeng and EDF Group will further discuss the feasibility of establishing a joint-venture company (the "Joint Venture") and jointly invest and operate in the integrated energy program in Sanya City. The Statement creates no new obligations for any of the three parties.
Sanya Municipal Government
Sanya City, a well-known tropical seashore tourism city, has been listed as a low carbon pilot city by Hainan Provincial Government in 2010. Six-in-one urban planning objectives to achieve a low carbon economy, low carbon transportation, low carbon construction, low carbon lifestyle, low carbon environment and low carbon society has been progressively promoted with policies, strategies and action plans.