China Datang Corp. Renewable Power Co. Ltd. Class H (HK:1798) has released an update.
China Datang Corp. Renewable Power Co. has announced the formation of a joint venture to develop the Wenchang Energy Storage Project, with investments totaling RMB 59 million. The company will hold a 40% stake, with subsidiaries Datang Renewables HK and Datang Hainan contributing 25% and 35%, respectively. This strategic move, which has complied with the necessary regulatory requirements, solidifies the company’s foray into the energy storage sector without necessitating further independent shareholder approval.
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