On October 26, the State Power Investment Corporation's Shandong Peninsula Nanhaitou Offshore Wind Power Base U1 Site Phase II 450 MW project was successfully connected to the grid.
According to the Securities Times app, on October 26, the State Power Investment Corporation's Shandong Peninsula Nanhaitou Offshore Wind Power Base U1 Site Phase II 450 MW project was successfully connected to the grid, marking the full capacity grid connection of China's largest individual sea-level cost wind power project - the Shandong Peninsula Nangu Site offshore wind power project. The total installed capacity of the project is 1.5 million kilowatts, making it the largest individual sea-level cost wind power project in China, and also the largest offshore wind power project in the North. Among them, China Power Shandong Energy Investment and Construction's U1 site has an installed capacity of 0.9 million kilowatts, covering an area of 143 square kilometers.
As the flagship listed platform of State Power Investment Corporation for comprehensive clean energy, China Power (02380) has taken a series of important measures in optimizing its development strategy. China Power recently stated that it will focus on laying out high-quality projects such as offshore wind power and onshore wind power, pay close attention to project electricity price levels and grid connection capacity, ensure good investment returns, and continue to increase shareholder returns.
It is worth mentioning that on the evening of October 18, China Power announced that China Power and Guangxi Company (a wholly-owned subsidiary of China Power) have separately entered into Restructuring Framework Agreement I and Restructuring Framework Agreement II with SPIC Yuanda Environmental-Protection (600292.SH), intending to acquire 63% of the equity of Wuling Power and 64.93% of the equity of Changzhou Hydropower as consideration, thus obtaining additional A-share shares and cash from SPIC Yuanda Environmental-Protection. After the restructuring, China Power will become the direct controlling shareholder of SPIC Yuanda Environmental-Protection. This restructuring will further consolidate China Power's position as the flagship listed platform of State Power Investment Corporation for comprehensive clean energy projects, mainly in hydropower, wind power, cecep solar energy generation, and high-quality thermal power generation. It will quickly build up as a capital markets' scarce large clean energy investment symbol, especially in overseas markets, and enhance its investment attractiveness.