Cecep Solar halts Hebei project, secures 2.11 bn yuan funding

Cecep Solar Energy has decided to terminate its investment and construction of the CECEP Solar Hebei China Unicom 150MW distributed photovoltaic power generation project. This decision, approved by the board on December 25, 2025, follows changes in distributed policy, delays from the cooperation partner, and potential curtailment risks affecting the project's economic viability. The project had commenced construction on December 29, 2023, with only 148.88KW completed.

In a related move, Cecep Solar's wholly-owned subsidiary, Cecep Solar Technology, will receive up to 2.11 billion yuan in special bond funds from its controlling shareholder, China Energy Conservation and Environmental Protection Group Co., Ltd. This 10-year loan, with an annual interest rate of 2.72%, is earmarked for "two-heavy and two-new" project construction. The company states this financing will optimize its capital structure, boost cash flow, and enhance profitability.

The board also approved the appointment of Mr. Du Hu as deputy general manager and Mr. Wu Nan as head of the audit department, effective December 25, 2025. These personnel changes and the special bond financing transaction were approved by the board, with relevant associated directors abstaining from voting on the financing. The termination of the Hebei project is not expected to cause significant financial loss to the company.