Towngas Smart Energy Company Limited (SEHK:1083) entered into the Transfer Agreement to acquire Towngas Renewable Energy (HK) Company Limited from The Hong Kong and China Gas Company Limited (SEHK:3) on June 21, 2023. In related transaction the loan owing to the HKCG Group by Towngas Renewable Energy (HK) is also getting acquired by Towngas Smart Energy Company Limited. The Combined consideration being paid is HKD 27.5 million.

Towngas Renewable Energy (HK) Company Limited reported a Net loss of HKD 0.67 million and Net Liabilities of HKD 2.5 million in December 31, 2022.