Guangdong No.2 Hydropower subsidiary lands 1.87bn yuan energy storage EPC contract

Guangdong Provincial Construction Engineering Group Co., Ltd. (Guangdong No.2 Hydropower Engineering) announced that its wholly-owned subsidiary, Guangdong Yuanta Engineering Co., Ltd., in a consortium with Guangdong Zhensen Electric Power Design and Research Co., Ltd., has signed an EPC contract for the Lanjun Energy Storage Power Station Project. The contract, signed with Shenzhen-Shantou Special Cooperation Zone Lanjun Energy Storage Co., Ltd., has a total value of 1,888,371,566.75 yuan. Guangdong Yuanta's portion of the engineering tasks is valued at 1,876,371,566.75 yuan.

The project involves the construction of an electrochemical energy storage power station with a capacity of 300MW/1200MWh, comprising storage systems, booster stations, transmission lines, and expansion intervals. The contract has a stipulated construction period of 120 days. This venture is expected to expand Guangdong Yuanta's construction business scale and improve profitability, contributing positively to the company's operating performance for 2025.

The company highlighted that the contract is an EPC agreement, and its performance could be influenced by force majeure events and fluctuations in raw material prices. However, no party involved is deemed to have performance capacity risks.