Shares of Concord New Energy Surge Nearly 17% in Afternoon Trading Following Approval of 1 GW Data Center Grid Connection

Stock News04-24 14:14

Concord New Energy (00182) saw a significant increase of nearly 17% in afternoon trading. At the time of writing, the stock had risen 16.95% to HK$0.345, with a turnover of HK$37.5216 million. The surge follows a recent announcement from the group that its 1-gigawatt capacity data center has completed a large-scale load interconnection study and has been granted a grid connection permit by the Electric Reliability Council of Texas (ERCOT). The data center will be located adjacent to one of the group's existing utility-scale solar and battery energy storage projects in Texas. This approval demonstrates the group's established capability to provide integrated infrastructure solutions for hyperscale operators and AI sector companies seeking gigawatt-level renewable energy power supply. The group anticipates that this milestone represents the first major step in its ongoing expansion of its digital infrastructure footprint. It plans to continue converting its renewable energy platform into sustainable long-term value for shareholders and business partners.

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