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China Power International Development ( (HK:2380) ) has shared an announcement.
China Power International Development’s non wholly-owned subsidiary Xinyuan Smart Storage has signed a RMB452.1 million contract to supply battery energy storage system equipment, components and related services for the Tacheng Project, an energy storage facility owned by fellow State Power Investment Corporation (SPIC) subsidiary Tuoli Company. The deal, classified as a connected transaction under Hong Kong listing rules because SPIC is China Power’s controlling shareholder, covers engineering design, equipment manufacturing, installation, commissioning, testing and five years of quality assurance, and is subject only to announcement and reporting requirements given its size; the contract strengthens China Power’s positioning in the rapidly developing energy storage segment and deepens intra-group collaboration that may support future smart storage and grid integration projects.
The most recent analyst rating on (HK:2380) stock is a Hold with a HK$3.50 price target. To see the full list of analyst forecasts on China Power International Development stock, see the HK:2380 Stock Forecast page.
More about China Power International Development
China Power International Development Limited is a Hong Kong-incorporated power producer primarily engaged in the development, operation and investment of power generation assets, including clean and renewable energy projects, serving electricity demand in mainland China and related markets through a portfolio that increasingly incorporates energy storage and smart energy solutions.
Average Trading Volume: 17,387,128
Technical Sentiment Signal: Buy
Current Market Cap: HK$38.84B
For detailed information about 2380 stock, go to TipRanks’ Stock Analysis page.