BINHAI INV (02886.HK): Subsidiary Qiyuan Zhikong to Invest in Distributed Photovoltaic Power Project with Estimated Capacity of 3.51 MW
NewTimeSpace News: Binhai Investment Company Limited (stock code: 02886) issued a voluntary announcement on August 10, stating that the Company's non-wholly-owned subsidiary, Deqing Qiyuan Zhikong Energy Service Co., Ltd. ("Qiyuan Zhikong"), has entered into agreements respectively with the collective economic organization of Baibiao Village, Xinshi Town, Deqing County and Deqing Xinhehui Construction Development Co., Ltd. (collectively, the "Counterparties"), pursuant to which Qiyuan Zhikong will invest in and construct a distributed photovoltaic power generation project (the "PV Project"), with an estimated total installed capacity of 3.51 MW (subject to actual installation).
According to the announcement, Qiyuan Zhikong will utilize the rooftops of the Counterparties to invest in, construct and operate the PV Project, covering all compliance procedures including project filing, grid connection approval and construction permits, as well as equipment procurement, engineering construction and subsequent operation and maintenance management. The lease term is 15 years commencing from the date the PV Project is connected to the grid and commences power generation, and all power generation income, national subsidies and green certificate income arising from the PV Project belong to Qiyuan Zhikong.
Reference is made to the Company's announcement dated March 25, 2026, pursuant to which the Company's wholly-owned subsidiary, Taicheng Clean Energy Group Co., Ltd., entered into a capital contribution agreement with Zhejiang Deyuan Culture Technology Co., Ltd., a wholly-owned subsidiary of the People's Government of Deqing County, Zhejiang Province, to jointly establish Deqing Qiyuan Zhikong Energy Service Co., Ltd. to expand the integrated energy services business. The Company considers that, as the Group's first externally invested distributed power generation project, the PV Project marks a substantive breakthrough in the diversified implementation of projects in the Group's integrated energy services segment and is a key step in accelerating its transformation into an integrated energy supplier; Qiyuan Zhikong, as the implementation platform for the strategic cooperation between the Group and the Deqing County government, integrates Deqing County's local resources and policy synergy advantages; while bringing long-term stable income to the Group, the PV Project will also accumulate replicable hands-on experience in distributed photovoltaics, laying a solid foundation for the Group's subsequent large-scale expansion in the integrated energy services market.
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