Huaihe Energy (600575.SH) plans to establish a joint venture to carry out related projects in the Kubuqi Desert base in Inner Mongolia.

Huaihe Energy (600575.SH) announced that the company plans to jointly invest with GD Power Development Co., Ltd., PetroChina Taihu (Beijing) Investment Co., Ltd., and Inner Mongolia ERDOS Resources New Energy Development Co., Ltd. to establish GD Power Development Huaihe Big Base (Inner Mongolia) Energy Co., Ltd. (tentative name, hereinafter referred to as "joint venture company"), which will be responsible for the development, construction, and operation of related projects at the Kubuqi Desert base in Inner Mongolia. The initial registered capital of the joint venture company is 200 million yuan, with the company holding a 34% stake. The company's establishment of the GD Power Development Huaihe Big Base (Inner Mongolia) Energy Co., Ltd. with its own funds is a deep implementation of the national policy for the construction of new energy bases in desert areas, aligning with the companys development strategy and holding significant long-term implications for the companys high-quality development. By participating in this project, the aim is to effectively add high-quality coal power, new energy, and energy storage capacity, significantly expand the scale of the companys new energy assets, optimize the existing industrial structure and profit structure, and assist the company in accelerating the transformation and upgrading of traditional energy to achieve green and low-carbon development.