Guangzhou Development expands new energy, adjusts capacity pricing

Guangzhou Development Group is significantly expanding its new energy portfolio, with total installed capacity for new-type energy storage projects reaching 196MW/345MWh by June 2025, an 830% year-on-year increase. Projects under construction total 350MW/800MWh, including the 208MW/416MWh Foshan Gaoming storage facility and the 24MW/48MWh+1MW/10min Pearl River Natural Gas Power Plant black start project, both nearing operation. The company is actively building a comprehensive energy storage ecosystem from research to application.

For thermal power, Guangdong Province's long-term power purchase agreement prices are expected to decrease in 2025, though coal prices have also fallen. Capacity tariffs for coal-fired units will adjust to 165 yuan per kW annually from January 1, 2026. Gas-fired units using Australian imported natural gas will also see capacity tariffs adjust to 165 yuan per kW annually from August 1, 2025, with other conventional units adjusting between 264 yuan and 396 yuan per kW depending on efficiency.

The company is addressing investor value through a comprehensive plan focusing on operational improvements, governance optimization, M&A, equity incentives, cash dividends, and investor relations. Guangzhou Development also confirmed that its board approved a resolution to authorize the board to determine the interim cash dividend plan for 2025.