According to EnergyTrend, on February 11, Longyuan Power released the prospectus for the private placement of A-share shares to specific objects in 2025, planning to raise no more than RMB 5 billion through targeted fundraising for the construction of two major wind power-supported energy storage projects.
As disclosed in the announcement, the two projects to be invested by Longyuan Power are located in Hainan and Ningxia respectively, with RMB 2.5 billion of fundraising allocated to each project.
One is the 500MW offshore wind power project at Site CZ8, Dongfang, Hainan, with a total investment of RMB 5.167 billion (inclusive), which will be equipped with a 200MWh energy storage facility. The investment in the energy storage facility is estimated at RMB 121.3641 million, accounting for 2.35% of the project's total investment. The project will be implemented by Hainan Guoneng Longyuan New Energy Co., Ltd., a wholly-owned subsidiary of Longyuan Power, with an operating period of 25 years, and is expected to deliver sound economic returns.
The other is the 1,000MW wind power project in Shapotou, a new energy base supporting the Ningxiang UHVDC Transmission Project, located in Shapotou District, Zhongwei City, Ningxia, with a total investment of RMB 4.272 billion. The supporting energy storage facility of the project involves an investment of RMB 128 million, accounting for 3% of the total investment. It will be constructed by Zhongwei Longyuan New Energy Co., Ltd., a wholly-owned subsidiary of Longyuan Power, with an operating period of 20 years, also boasting favorable economic benefits.
Prior to the full receipt of the raised funds, Longyuan Power may advance the project construction with self-raised funds, which will be replaced in accordance with regulations after the fundraising is completed. In case the net raised funds are insufficient, the shortfall will be covered by the company's self-raised capital. The private placement will not lead to changes in the company's controlling shareholder or actual controller.
Source：EnergyTrend