Concord New Energy to Renegotiate Key EPC Agreement in Response to External Market Changes

NewTimeSpace News: On March 25, 2026, Concord New Energy issued a supplemental announcement regarding its key Engineering, Procurement and Construction (EPC) Agreement, disclosing plans to restart negotiations on the agreement. The announcement noted that geopolitical conflicts in the Middle East have disrupted global commodity prices and international shipping logistics, and coupled with other external factors such as changes to US tariff policies, the costs and construction timelines of the projects under the EPC Agreement have been materially affected. As such, the employer and the contractor need to renegotiate the terms of the agreement.

Concord New Energy stated that in response to the aforesaid unforeseen circumstances, restarting negotiations and planning to sign a supplemental agreement is in the interests of the company and its shareholders, and relevant negotiations have now commenced. A supplemental agreement will be signed if the two parties reach a consensus, while the EPC Agreement may be terminated if the negotiations fail.

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