CH ENERGY ENG (03996) overseas investment project receives financing support.

CH ENERGY ENG (03996) announced that the Bu state project company and the Ka state project company have signed a financing agreement with a consortium composed of China Construction Bank Corporation Beijing Railway Professional Branch, Bank Of China Beijing Branch, China Export-Import Bank, and China Minsheng Banking Corp., Ltd. Shanghai Free Trade Zone Branch. According to the financing agreement, the Bu state project company and Ka state project company can each obtain a loan amount of RMB 1.654 billion and RMB 1.684 billion respectively, with a loan term of 15 years. Both project companies pledge all their assets, contract rights, bank accounts, and equity to the financing banks. Additionally, the equity of the upper-level Dutch company of the project companies is also pledged to the financing banks, as well as the shareholder loan rights held by each shareholder. It is reported that in May 2023, following company decisions, there are plans to invest in and construct a 1GW photovoltaic project in Uzbekistan, including the Bukhara region in Uzbekistan Karaulbazar 500MW photovoltaic project (Bu state project) and the Kashkadarya region in Uzbekistan Nison 500MW photovoltaic project (Ka state project), with investment amounts of approximately RMB 2.334 billion and RMB 2.377 billion respectively. To promote project development, the company established a wholly-owned subsidiary EnergyChina Dutch Investment B.V. and Oasis Renewable Energy Investment B.V. (together referred to as the "Dutch company") in 2023, as well as the Bu state project company and the Ka state project company. The Dutch company collectively holds 100% equity in the Bu state project company and Ka state project company.