Shangao New Energy (01250) announced that on March 20, 2024, the company cooperated with Shandong International Cooperation and Shandong Gao...
Zhitong Finance App News, Shangao New Energy (01250) announced that on March 20, 2024, the company signed an investment agreement with Shandong International Cooperation and Shandong High Speed Energy Development to establish a joint venture in China.
According to the investment agreement, the total investment amount (including all registered capital) is RMB 45 million, of which 30% (that is, the investment amount of RMB 13.5 million) will be funded by the company, 40% (i.e. RMB 18 million) will be funded by Shandong International Cooperation, and the remaining 30% (i.e. RMB 13.5 million) will be funded by Shandong High Speed Energy Development. The joint venture plans to mainly engage in overseas photovoltaic power generation, wind power generation, energy storage, charging, smart energy management and control systems.
According to the announcement, the clean energy business is the Group's core development business. The establishment of a joint venture will enable the Group and Shandong Expressway Group to cooperate in developing overseas clean energy business, give full play to their respective advantages, and improve the efficiency of development, operation and capital utilization, so as to achieve shared risks and benefits.