At a Glance:
- Huawei Technologies spent $632.52 million for building a digital power HQ in Shenzhen.
- Huawei Digital Power signed an agreement deal with the local government.
- The digital power project is aimed at dealing with the challenges of big data, traffic, and energy consumption.
Huawei Technologies spend $632.52 million to build a new HQ and R&D center for its digital power unit. The following has been reported by local media reports that the Chinese telecom giant is diversifying due to the U.S. pressure.
Huawei Digital Power signed an agreement with the local government of the southern metropolis of Shenzhen. The signing deal was part of a larger event that took place at Shenzhen to mark the launch of new construction projects in the city.
Huawei’s Conducive Project
The 21st Century Herald has commented on Huawei’s project and declared it conducive, to promoting the ‘dual carbon’ supply chain. It was referring to China’s goal of reaching the carbon emission peak before 2030 and becoming “carbon neutral” before 2060.
There was no official response or comment from Huawei.
Diversifying the Portfolio
Huawei has been trying to diversify the portfolio beyond its core telecom services and smartphone manufacturing businesses. The company has faced export restrictions from the U.S. leading to tough times amid the pandemic.
Huawei Digital Power was registered last year in June under the name of the parent company’s current rotating chairman, Ken Hu.
Face the challenges of Big data
Huawei Digital Power was established to encounter the rising challenges in the era of big data, traffic, and energy consumption. The project is aimed at offering solutions to the data centers and assisting the telecom and tower operators to achieve “green efficiency”. The following was confirmed by the company website.
Early this year, Huawei Digital Power and China Resources Power Holdings Co Ltd (0836. HK), which operates coal-fired power plants across China is signing a cooperation agreement to develop clean energy projects like big data platforms for solar panels, energy storage systems, and smart power plants.
