BJENERGY INTL (00686.HK): Jingneng Smart Energy Signs Comprehensive Energy Project Agreement with Beijing University of Technology, Total Investment of RMB 236.17 Million
NewTimeSpace News: On 20 August 2026, Beijing Energy International Holding Co., Ltd. (00686.HK) announced that Beijing Jingneng International Comprehensive Smart Energy Co., Ltd. (Jingneng Smart Energy), an indirect wholly-owned subsidiary of the company, entered into an agreement with Beijing University of Technology to be responsible for the investment, financing, design and construction of the comprehensive energy system (including heating and cooling systems, photovoltaic power generation, bathing hot water heating systems and a comprehensive energy management platform) for its new campus in Fangshan (Phase I), with a total construction investment of RMB 236.17 million, as well as operation and management of the comprehensive energy system for 20 years.
The construction period will proceed in line with the overall construction schedule of the new campus, with energy supply expected by September 2027 and the latest completion date no later than 30 June 2028; the operation period is 20 years from the date specified in Beijing University of Technology's written energy supply notice, during which the university will pay annual heating and cooling service fees of approximately RMB 43.89 million (approximately RMB 28.72 million for heating and RMB 15.17 million for cooling), with photovoltaic power billed at RMB 0.257 per kWh and bathing hot water heating at RMB 30.7 per cubic metre, settled quarterly based on actual usage. Upon expiry of the operation period, Jingneng Smart Energy will transfer the relevant project facilities and assets to Beijing University of Technology or its designee without compensation.
The agreement requires Jingneng Smart Energy to provide an irrevocable construction-period performance guarantee of RMB 50 million within 60 business days of signing; in the event of delay in capital contribution, financing or construction obligations, Beijing University of Technology may draw on the guarantee at RMB 10,000 per day, with any drawn amount to be replenished within 30 business days. As the highest applicable percentage ratio exceeded 5% but was below 25%, entering into the agreement constitutes a discloseable transaction of the company. The directors consider the terms fair and reasonable and in the interests of the company and its shareholders as a whole, and the project will expand the group's footprint in Beijing, generating long-term stable service fee and electricity income.
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