Singaporean energy group SP Group said on Tuesday it plans to invest more than 200 million yuan ($27.6 million) in construction and operation of a district cooling and heating system for a sports park in Chengdu, Sichuan province.

With an installed cooling capacity of 9,800 refrigeration tons, the project would be SP's largest district cooling system in Chengdu.

When operational in 2025, the system will enable the park to enjoy greater energy efficiency of more than 30 percent for cooling and more than 50 percent for heating. It will translate into annual savings of 2,900 megawatt-hour (MWh) of electricity and abatement of 1,700 metric tons in carbon emissions, according to SP Group.

Michael Zhong, managing director of SP Group (China), expressed commitment to leveraging the group's financial and technological advantages to contributing to China's green and sustainable development.

"China's commercial and industrial boom, coupled with greater sustainability ambitions, has resulted in a higher demand for clean energy and digital solutions that can contribute toward China's urban transformation and decarbonization goals," he said.