Huawei to invest $632 million to build new digital energy headquarters in Shenzhen

A Huawei staff use their smartphone at the telecommunications company’s customer experience center in Kuala Lumpur, Malaysia January 11, 2022. REUTERS/Hussain Hasnoor

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BEIJING, Feb 18 (Reuters) – Huawei Technologies (HWT.UL) will spend 4 billion yuan ($632.52 million) to build a new headquarters and R&D center for its digital power unit, according to media reports. locals, while the Chinese telecommunications giant is diversifying under American pressure.

Huawei Digital Power on Thursday signed an agreement with the local government of the southern metropolis of Shenzhen, where its headquarters are located, for the project, the 21st Century Herald newspaper reported.

The signing was part of a larger event hosted by Shenzhen to mark the launch of new construction projects in the city, he said.

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The 21st Century Herald said Huawei’s project is conducive to promoting the “dual carbon” supply chain, referring to China’s goal of reaching its peak carbon emissions before 2030 and become “carbon neutral” before 2060.

Huawei did not respond to a request for comment on the deal.

Huawei has tried to diversify its portfolio beyond its core telecommunications and smartphone businesses, which have been hit hard in recent years by US export restrictions.

Huawei Digital Power was registered last June under the name of the parent company’s current rotating chairman, Ken Hu.

It was created to face “the challenges of the age of big data, traffic and energy consumption”, providing solutions such as intelligent data centers and helping telecommunications and tower operators achieve “green efficiency,” according to the company’s website.

In January, Huawei Digital Power and China Resources Power Holdings Co Ltd (0836.HK), which operates coal-fired power plants across China, signed a cooperation agreement to develop clean energy projects such as big data for solar panels, energy storage systems, and smart power plants.

($1 = 6.3239 Chinese yuan renminbi)

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Reporting by Eduardo Baptista; edited by Jason Neely

Our standards: The Thomson Reuters Trust Principles.

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