Shenzhen Energy forms new offshore wind JV for eastern Guangdong project

Shenzhen Energy Group Co., Ltd. announced the establishment of Shenneng Ocean Energy (Shantou) Co., Ltd. as a joint venture to develop the Shantou Eastern Offshore Wind Power Base 3-5 project (1000 megawatts). This move follows the receipt of development rights by a consortium including Shenzhen Energy's wholly-owned subsidiary, Shenneng Ocean Energy Co., Ltd. The new company's registered capital will be RMB 20,000万元.

Shenneng Ocean Energy Co., Ltd. will contribute RMB 14,000万元, securing a 70% equity stake in Shenneng Ocean Energy (Shantou) Co., Ltd. Other partners, including China Communications Construction Company Limited and Shanghai Electric Wind Power Group Co., Ltd., will hold 10% and 2% equity respectively. Shenzhen Energy will also increase its capital contribution to Shenneng Ocean Energy Co., Ltd. by RMB 14,000万元, raising its registered capital from RMB 158,708万元 to RMB 172,708万元.

This initiative is expected to facilitate the preliminary work for the project, advance Shenzhen Energy's green and clean energy portfolio, and lay the groundwork for expanding into regional markets. The board of directors approved both the establishment of the Shantou Company and the capital increase for Shenneng Ocean Energy Co., Ltd. with nine votes in favor, zero against, and zero abstentions.