Baineng International Energy (08132.HK) announced that on December 9 this year, a wholly-owned subsidiary Bineng Energy and Scientific Rui New Energy entered into a non-legally binding strategic cooperation agreement on possible business cooperation.
According to the agreement, both parties can make use of their respective resources, information and expertise to jointly participate in the preliminary work of the development of energy storage projects. it includes conducting energy storage market research, selecting potential customers, conducting research on the energy consumption model of target customers, optimizing energy storage technology and equipment solutions, calculating financial models and designing comprehensive energy solutions. In the process of cooperation, Baineng Energy and Ke Rui New Energy can explore their respective business opportunities and identify investment opportunities for potential energy projects. The contractor may enter into a separate agreement on project execution or investment opportunities for the business in accordance with market practice.
The Board is of the view that the signing of the strategic cooperation agreement will enable the company to further develop and expand its energy storage business by identifying suitable new energy projects and to tie in with the Group's business strategy.