Everbright Greentech Acquires 60% Equity Stake in Kellon Green Energy Limited in Hong Kong

Hong Kong, 19 March 2021 – China Everbright Greentech Limited ("Everbright Greentech" or the "Company") (Stock code: 1257.HK) is pleased to announce that the Company has recently entered into a share capital increase agreement with Kellon Green Energy Limited ("Kellon") in Hong Kong to acquire 60% equity stake in Kellon.

Kellon has registered with the Electrical and Mechanical Services Department of Hong Kong as an electrical contractor for electrical work, and possesses extensive experience in the investment, construction and operation of solar energy projects in Hong Kong. Currently, Kellon has a total of 10 solar energy projects across the Hong Kong Island, Kowloon and New Territories, including 6 operating projects and 4 projects in the preparatory stage with a total designed installed capacity of 1,816 kilowatts. In addition, Kellon has a strong pipeline of new projects.

Mr. QIAN Xiaodong, CEO of Everbright Greentech, said, "In January 2017, the Hong Kong SAR Government launched the Hong Kong Climate Action Plan 2030+, which regards the utilisation of renewable energy such as solar energy as an important way to implement the Paris Agreement and seeksto support the promotion of renewable energy utilisation. The signing of this agreement has not only enabled Everbright Greentech to expand its footprint in Hong Kong, but also demonstrates the Company’s solid actions in response to China's targets of achieving carbon dioxide emission peak and carbon neutrality. Going forward, Everbright Greentech will fully leverage its extensive experience, resources and network relating to renewable energy, and proactively engage in and support Hong Kong to optimise its energy mix, in a bid to facilitate the city to achieve its carbon emissions reduction target."