CESL Asia invests in energy sector
Macau-based CESL Asia Group will invest in the development of two power plants in the south of Portugal, chief executive António Trindade announced yesterday. He was speaking during the company’s Christmas dinner.
CESL Asia is joining with Portugal’s Magpower Inc., a manufacturer of an advanced technology called CPV solar modules and trackers, to invest about 200 million patacas (US$25 million) in enabling clean and renewable electricity.
“Three months ago and as a result of several years of collaboration, CESL Asia and Magpower, a leading CPV solar technology developer, agreed to jointly invest in two power plants of six megawatts (in total) in Portugal,” Mr Trindade said in a prepared statement.
Concentrated photovoltaic technology – CPV for short – uses optics to concentrate sunlight onto a small area of solar photovoltaic cells in order to generate electricity.
CESL Asia provides environmental infrastructure, facility management and consultancy services to companies. Through its subsidiaries, it runs the operation and maintenance of the technical and energy infrastructures of Macau International Airport.
It also manages the Areia Preta wastewater treatment plant on the peninsula.
“This is our first investment in a energy producing asset – valued at about 200 million patacas – that will start feeding electricity to the grid in the first quarter of 2013,” said Mr Trindade.
To go ahead with the deal, the company got the backing of Banco Nacional Ultramarino SA, he added.
“The move reflects our interest in investing in a field where we are usually only a service provider,” he told Business Daily. “This is a very exciting development to our business.”
CESL Asia also wants to bring the technology to Macau.
“We have agreed to set up a joint company in Macau covering the transfer of technology from Magpower, [for] R&D [research and development], manufacturing, marketing and operation of CPV and other products derived from the technology,” Mr Trindade said.
“We intend to make Magpower’s CPV technology Macau’s contribution to the ‘new energy’ developments in China,” he stated.
The company’s CEO revealed the partners are also seeking opportunities in the mainland market.
“We are working with [the] relevant authorities of Golmud, Qinghai – the cradle of solar energy in China – and I am convinced that we can contribute with our experience and capability to develop and implement innovative, practical green energy solutions for public and private use in China, Macau, and the Portuguese speaking countries,” he said.