Concord New Energy Secures Loans with Guarantee Agreements

Concord New Energy Group (HK:0182) has released an update.

Concord New Energy Group has announced that its subsidiary, Century Concord Wind Power, has entered into guarantee agreements with Ping An Bank and China Merchants Bank to secure loans for O&M Co, a joint venture partially owned by the company. These agreements involve counter-guarantees to protect Century Concord Wind Power from potential losses, and they fall under the category of connected transactions that are subject to annual review. The complex financial arrangements reflect the company’s ongoing strategy to manage risk and investment in the joint venture.

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