Wah Kwong NatPower and Jiangsu Port Group Investment Management have signed an MOU to develop a green energy network for inland waterway shipping in Jiangsu, home to China’s largest inland waterway network, according to Wah Kwong NatPower.
The agreement was signed at the Jiangsu International Maritime Conference in Nanjing and covers cooperation in shipping, port infrastructure and clean-energy electrification.
The partners plan to develop integrated energy systems combining vessel charging, battery storage and battery-swapping technology, expanding beyond standalone charging infrastructure to serve a wider range of inland shipping operations.
The deal extends Wah Kwong NatPower’s activities in China beyond its projects in Zhejiang and into Jiangsu, one of the country’s key inland shipping regions.
The companies also intend to establish a senior-level cooperation mechanism drawing on Jiangsu Port Group, Wah Kwong Maritime Transport and NatPower to explore further maritime and port projects and make greater use of their respective resources.
Wah Kwong NatPower aims to invest in, develop and operate maritime electrification infrastructure across Asia. Its activities include shore power for ships at berth and electricity for vessel propulsion. The company combines the maritime experience of Wah Kwong Maritime Transport with NatPower’s energy infrastructure expertise and works with NatPower Marine on maritime electrification projects.
Jiangsu Port Group Investment Management, wholly owned by Jiangsu Port Group, was established on 7 December 2022 with registered capital of RMB 1.521bn (about $226.3m). It serves as the group’s investment, capital operations and asset-management platform, with a focus on ports, shipping, logistics and strategic emerging industries including new energy.
Jiangsu Port Group is the parent company of Jiangsu Port Group Investment Management.
Wah Kwong Maritime Transport and NatPower are the parent companies whose capabilities underpin Wah Kwong NatPower, while NatPower Marine is identified as its partner.