CGN New Energy expands portfolio with solar-aquaculture project, power sale deal

CGN New Energy Holdings Co. announced a discloseable transaction involving an Engineering, Procurement, and Construction (EPC) Contract. Its wholly-owned subsidiary, CGN New Energy Yancheng, will engage China Energy Engineering Jiangsu Design Institute for a 200MW fishery and photovoltaic complementary project in Jianhu County, Jiangsu Province. The contract price for the construction work is approximately RMB567.2 million, with an expected completion date of December 30, 2026. This project is anticipated to increase the Group’s property, plant, and equipment by approximately RMB514.3 million and liabilities by approximately RMB378.1 million.

Additionally, CGN Shenzhen, another wholly-owned subsidiary, entered into a Power Sale Services Framework Agreement with CGN Wind Energy, a non-wholly owned subsidiary of the controlling shareholder. This agreement, effective from January 1, 2026, to December 31, 2028, covers electricity, green certificates, CCER, international emission reduction, and advisory services. The annual caps for these services range from RMB269.9 million in 2026 to RMB345.8 million in 2028.

Both transactions are considered ordinary course of business and contribute to the Group’s strategic layout for new energy and enhance market competitiveness.