CONCORD NE (00182.HK) sells 545 MW Texas solar projects for up to US$29.98 million, expecting a US$27.97 million gain

NewTimeSpace News: On 28 October, Concord New Energy Group Limited (CONCORD NE, 00182.HK) announced that on 27 October 2026 (US time) its wholly-owned subsidiary Red River entered into a sale agreement with the buyer, Uva Creek Solar Holdings, LLC, and ESI Energy to sell 100% equity interests in two target project companies for a maximum total purchase price of about US$29.98 million (equivalent to about RMB200.57 million). The buyer is wholly owned by NextEra Energy Resources, LLC, whose operating platform ESI Energy guarantees the buyer's performance on a joint and several basis.

Gail Mountain and Grape Creek hold assets relating to planned photovoltaic facilities in Borden County, Texas, with expected nameplate capacities of 244 MW and 301 MW respectively, totalling 545 MW. The total purchase price is payable in four milestone-based instalments: about US$2.73 million in aggregate at closing; US$15,000 per MW upon signing of power purchase or similar agreements; US$35,000 per MW after notice to proceed; and US$55,000 per MW upon commercial operation. The purchase price is capped at about US$13.42 million for Gail Mountain and about US$16.56 million for Grape Creek.

As at 21 October 2026, the aggregate unaudited net asset value of the target project companies was about US$2.01 million. Assuming the maximum total purchase price is fully received, the company estimates a maximum unaudited gain of about US$27.97 million (equivalent to about RMB187.12 million); the actual gain is subject to audit and the proceeds will be used as general working capital. As the highest applicable percentage ratio exceeds 5% but is below 25%, the disposal constitutes a discloseable transaction, with a long-stop date for completion of 1 December 2026.