Wanneng Electric Power completes the capital increase and acquisition of Xinneng Company, involving 25 billion yuan of energy assets.

According to the Anhui State-owned Assets Public Account, recently, Wanxiang Power successfully completed the capital increase and controlling stake of Anhui Province Xineng Entrepreneurship Investment Co., Ltd., with the latter's registered capital increased from about 38.3 billion yuan to about 78.2 billion yuan, with an increase of nearly 40 billion yuan. Wanxiang Power and Xineng Company are key enterprises under the provincial Energy Group. This professional integration is a key measure for the group to deepen the reform of state-owned enterprises and layout the new energy industry. This capital increase involves 25 billion yuan of energy assets. After the integration is completed, the scale effect of the new energy sector of the provincial Energy Group will be fully released. Currently, operating more than 50 wind, solar, and energy storage new energy projects, with a total installed capacity of 6.44 million kilowatts, the project layout covers more than 30 cities in 11 provinces including Anhui, Hunan, Xinjiang, Shaanxi, forming a cross-regional, multi-category layout of new energy industry.