PSA forms new JV investing in renewable energy in China


PSA has partnered with Beibu-Gulf Port Group (BPG) and COSCO Shipping Group (COSCO) to form a joint venture (JV) company in China’s Guangxi Qinzhou Port District investing in wind and solar energy production.

PSA Group says the JV, with its focus on renewable energy production, is aligned with and will help the Group reach its goal to be net zero by 2050.

PSA, BPG and COSCO are the main shareholders of Beibu-Gulf International Container Terminal, the largest international container port in Guangxi. They share a common vision of developing Beibu-Gulf International Container Terminal into a carbon neutral terminal.

The new JV company will generate and supply clean wind and solar energy to the terminal, and potentially to all other port and logistics establishments in Qinzhou Port. Phase 1 of the JV is expected to be operational by the end of 2023 and has the potential to reduce Beibu-Gulf International Container Terminal’s carbon emissions by up to 70%.