Shanghai Electric Confirms RMB 426.91 Million Equity Transfer of Five Renewable Project Companies; Inter-Company Loans Fully Repaid

Bulletin Express05-26 19:02

Shanghai Electric Group Company Limited (Shanghai Electric) reported further progress on its previously announced plan to divest five project companies.

On 10 May 2026, wholly owned subsidiaries Anhui Investment Company and Electric Investment Company signed separate equity transfer agreements with Shanghai Electric Group Corporation (SEGC), finalising the disposal of 100% equity interests in Wuhe, Tianchang, Mengcheng, Suixi and Xiangshui Project Companies.

The consideration for the transaction is set at RMB 426.91 million, based on the appraised net asset value of the five project companies as of the 31 October 2025 valuation benchmark date.

Shanghai Electric also disclosed that Tianchang, Mengcheng, Suixi and Xiangshui Project Companies have fully repaid outstanding inter-company loans to Shanghai Institute of Mechanical & Electrical Engineering Co., Ltd., another wholly owned subsidiary of Shanghai Electric.

Board approval for the disposal was originally obtained on 29 April 2026, and the deal is structured as a non-public agreement transfer. The company stated that the latest update satisfies key pre-closing conditions for the transaction.

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