Beijing, PRC—August 18, 2023—Asia Clean Capital Investment Holdings Limited (“ACC”) today announced that it has begun commercial operations of a 2.3MW distributed solar project with Mary Kay (China) Cosmetics Co., LTD. (hereinafter referred to as Mary Kay).

Mary Kay was founded on September 13, 1963, headquartered in Dallas, Texas, United States. As a private direct sale multinational corporation, Mary Kay is a world-renowned skin care and makeup brand, it ranked 205th in Forbes 2022 America’s largest private companies.

Under the terms of the agreement, the photovoltaic power generation project is located in Hangzhou, Zhejiang Province. The project adopts the mode of “spontaneous self-use, surplus electricity online”, and the green electricity generated by the photovoltaic power generation system installed on the idle roof of client’s factory will be sold to Mary Kay at a fixed discount price. The solar system can meet Mary Kay’s growing demand of electricity, but also minimize their cost. The construction work of this project is scheduled to begin at the end of August, and is expected to be gird connected by the end of November.

Over its expected 25-year life of the facility, the system will reduce approximately 45,349 tons of CO2, or the equivalent of 10,784 kilograms of SO2, and saving water by about 66 tons.

About Asia Clean Capital

Asia Clean Capital (“ACC”) is a leading clean energy solutions developer that serves large multinational and domestic firms throughout China. ACC clean energy solutions including Rooftop Solar systems, Ground Energy systems, and Energy Efficiency Upgrading services. ACC is the first wholly foreign-owned enterprise to develop distributed solar business in China. Its shareholders include IFU, an independent government-owned sovereign wealth fund owned by the Danish government. Focused on rooftop solar projects, ACC invests and manages the projects, and provides the design, engineering, equipment, government approvals, system operation and management. All electricity produced through ACC’s solar projects is then provided to clients at agreed rates lower than when purchased from the local power grid. ACC’s project sites are typically large production facilities with electric demand from one to twenty megawatts, including Daming, Eastroc Beverage, Nestle, Coca-Cola, Swire, COFCO, Danone, Volkswagen, SKF, Unilever, IKEA, Wahaha, Andritz, WISCO, VAST, Schindler, Lee Kum Kee, Hanglung, Tsuneishi etc. The company has offices in Hong Kong, Beijing and Ho Chi Minh City.

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