It is reported that on February 1, Guangzhou Development issued an announcement disclosing that its wholly-owned subsidiary Guangzhou Development New Energy Co., Ltd. signed a comprehensive strategic cooperation Agreement with the People's Government of Jiangling County, Jingzhou City, Hubei Province, in January 2024.

The main content of the agreement is that the Jiangling County people's Government supports Guangzhou Development New Energy Co., Ltd. to install distributed photovoltaic power generation systems on the roofs of party and government office buildings under its jurisdiction, the roofs of public buildings such as schools, hospitals and village committees, and the roofs of buildings such as rural residents, and integrate the idle land and water resources of Jiangling County for the development of ground photovoltaic projects. The total investment of the energy integration project is expected to be about 800 million yuan, and the installed capacity of the rooftop distributed photovoltaic power generation project is planned to be 100MW, and the installed capacity of the "fish-light complementary" power generation project is 100MW, and the final installed capacity and investment are subject to the approval or filing documents of the relevant departments.

Guangzhou Development said that the new energy company signed a strategic cooperation agreement, will make full use of Jiangling County regional resources to invest in the construction of photovoltaic power generation projects, further accelerate the company's new energy industry in central China layout, to build a new energy base in central China, to achieve large-scale development to provide further support, in line with the company's long-term development plan and the interests of all shareholders. The signing and performance of this Agreement will not affect the Company's operating income and net profit in 2024. Editor/Xu Shengpeng