GCL NEWENERGY (00451) has announced that on April 13, 2026, its indirect wholly-owned subsidiary, Times Digital Intelligence International, entered into a 2026 Ethiopian Operations Service Agreement with Peak Long Holdings Limited. Under this agreement, Times Digital Intelligence International will provide operational and management services to Peak Long for certain natural gas generator sets and computing power equipment located in Ethiopia. The service term for each generator set begins upon the completion of its performance acceptance test and receipt of a written handover notice from Peak Long, and terminates upon the earlier of: (i) three years from that date, or (ii) the accumulation of 24,000 operating hours under target conditions. The service term for the computing power equipment is calculated in the same manner. The annual service fee is approximately RMB 8 million, payable based on actual power generation at a rate of RMB 0.10 per kilowatt-hour. Over the full three-year service period, the total estimated fee amounts to approximately RMB 24 million. The Group is primarily engaged in providing operational and management services for power stations, with its existing client base mainly concentrated in mainland China. It has set a clear goal to expand such services to overseas markets. By leveraging digital and artificial intelligence technologies to reshape the entire energy operations value chain, the Group offers comprehensive, multi-format, one-stop operational management throughout the asset lifecycle, achieving dual breakthroughs in "technology empowerment" and "service value-add." The execution of the 2026 Ethiopian Operations Service Agreement is expected to increase the Group's revenue and allow it to fully realize economies of scale while delivering the contracted services.
Comments