Gelonghui, April 3, 丨 Beijing Energy International (00686.HK) announced that on April 3, 2024, the buyer and Photovoltaic (Changzhou) Investment Group Co., Ltd. (a subsidiary of the company) entered into an equity transfer agreement with the seller Shanghai Sineng Investment Co., Ltd. According to this, the buyer conditionally agreed to purchase and the seller conditionally agreed to sell all of the shares of the target company and Shunrunneng New Energy Co., Ltd., at a cost of approximately RMB 149 million. The target company is mainly engaged in the generation, transmission and supply of electricity.
The board of directors believes that the acquisition is in line with the national renewable energy goals and the Group's development strategy. At the national level, developing renewable energy, promoting energy transformation, and establishing a green and low-carbon energy system are core breakthroughs in China's renewable energy era. The acquisition matters and corresponding acquisitions of target projects are in line with the country's vision for renewable energy and the “14th Five-Year Plan”.
After the acquisition is completed, the target project will have an installed capacity of up to 80 megawatts. Together with the company's existing wind power project in Jinzhong City, Shanxi Province, there will be a synergy effect. These projects are all located in China's Shanxi Province. As a whole, they are easier to manage, and their power generation capacity and profitability will increase.