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China Fund News reporter heard

On the morning of July 24, Changyuan Power turned from decline in the previous few days to rise. As of press time, the stock price was 4.24 yuan per share, and the total market value was 11.66 billion yuan.

On the evening of July 23, Changyuan Power announced that the company plans to cooperate with the Songzi Municipal Government to develop and construct new energy projects in Songzi City, with a total investment of approximately 7 billion yuan.

In comparison, the above investment accounts for 60.03% of Changyuan Power's total market value. It is reported that Changyuan Power intends to increase the proportion of new energy installed capacity through this investment. This has also become one of the cases of its controlling shareholder, the State Energy Group, developing new energy through its listed companies.

The total investment of the project is about 7 billion yuan

According to the cooperation agreement signed by Changyuan Power and Songzi Municipal Government, the two parties will jointly develop and construct new energy projects in Songzi City, with a total installed capacity of no less than 1.5 million kilowatts (including no less than 650,000 kilowatts of wind power) and a total investment of approximately 7 billion yuan.

Changyuan Power announced that the two parties signed the cooperation agreement in order to implement the country's "dual carbon" strategy, give play to the respective advantages of local governments and enterprises, and jointly promote the development of new energy projects in Songzi City.

It is reported that the operation period of the above-mentioned cooperation project is 25 years, which will be calculated from the date when the project is connected to the grid. After the expiration of the period, Changyuan Power will enjoy the priority operation right under the same conditions.

From the perspective of project construction planning, Changyuan Power or its designated units will make practical plans to improve grid access conditions, actively strive for new energy construction indicators, and strive to start construction of no less than 200,000 kilowatts of new energy projects each year starting from 2025.

However, if Changyuan Power fails to implement the new energy projects agreed in the agreement and the Songzi pumped storage project cannot be put into operation at full capacity at the same time, the Songzi Municipal Government has the right to reallocate the remaining new energy resources.

Continue to increase installed capacity of new energy

Changyuan Power announced that the signing of this agreement will help the company accelerate the development and construction of new energy projects in Songzi City, further increase the proportion of new energy installed capacity, and optimize the power supply structure.

Changyuan Power's business segments include thermal power, hydropower, new energy power generation and electricity sales. As of the end of December 2023, the total controllable installed capacity in operation is 10.4947 million kilowatts, including 8.31 million kilowatts of thermal power, 585,500 kilowatts of hydropower, 264,000 kilowatts of wind power, 1.3136 million kilowatts of photovoltaics, and 21,600 kilowatts of biomass.

At present, Changyuan Power is accelerating its pace of development in the field of new energy. On July 13, Changyuan Power issued a prospectus for the issuance of shares to specific objects (registration draft), showing that the company plans to raise no more than 3 billion yuan (inclusive) through a private placement, which will be used for multiple new energy projects after deducting the issuance costs.

Changyuan Power is a listed company controlled by the State Energy Group, which is developing new energy through diversification, rapidity, scale, efficiency and scientific means.

The official website shows that the State Energy Group is the largest primary energy supplier in China. It has actively responded to the "dual carbon" strategy and proposed to add 90 million kilowatts of new energy installed capacity in the "14th Five-Year Plan" and strive for a development goal of 100 million kilowatts. On June 30, the scale of new energy installed capacity exceeded 100 million kilowatts.

At present, the listed companies under the State Energy Group, including Guodian Power, Changyuan Power, Longyuan Technology and Longyuan Power, are all important tools for its development of new energy.

On the evening of July 1, Longyuan Power announced that the State Energy Group plans to start injecting some new energy assets into the company, and the estimated installed capacity of new energy is about 4 million kilowatts.

Longyuan Power will further focus on its main business of renewable energy power generation. It is reported that Longyuan Power is the earliest professional company in China to develop wind power and has become a large-scale comprehensive power generation group mainly engaged in the development and operation of renewable energy.

During the 14th Five-Year Plan period, Guodian Power plans to put into operation 35 million kilowatts of new energy installed capacity. In 2024, it plans to acquire more than 14 million kilowatts of new energy resources, approve 12 million kilowatts, start construction of 8.3 million kilowatts, and put 8.6 million kilowatts into operation.

Editor: Joey

Audit: Wooden Fish

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