On the evening of October 10, China Energy Engineering Corporation Limited (601868) announced that its subsidiary consortium recently signed three renewable energy EPC contracts with a joint venture company established by Saudi International Power and Water Company, Saudi Public Investment Fund, and Saudi Aramco Power Company. The total contract value amounts to approximately $2.745 billion, equivalent to about 19.554 billion yuan.
The contracts include the Saudi PIF Phase V Shakira 1GW wind power project valued at $663 million with a 26-month construction period, the Saudi PIF Phase V Stella 2GW wind power project worth $1.251 billion with a 30-month construction period, and the Saudi PIF Phase VI Forest 2GW photovoltaic project valued at $831 million with a 26-month construction period.
As a leading enterprise in the energy and power construction sector, China Energy Engineering Corporation Limited operates a complete industrial chain covering planning consultation, survey and design, construction, and operation. The company's business layout is closely aligned with the development of the energy and power industry. Currently, benefiting from high investment activity in the power sector and structural transformation, the company's renewable energy power construction business is experiencing rapid growth.
In the first half of 2025, China Energy Engineering Corporation Limited achieved new wind power installations of 51.39 million kilowatts, solar power installations of 212 million kilowatts, and biomass power installations of 710,000 kilowatts. As of the end of June 2025, total wind power capacity reached 573 million kilowatts, solar power capacity reached 1.1 billion kilowatts, and biomass power capacity reached 47 million kilowatts, representing year-over-year growth of 22.7%, 54.2%, and 3% respectively.
Regarding international business, China Energy Engineering Corporation Limited is actively implementing a priority, quality, and coordinated development strategy. By the end of June 2025, the company had established six overseas regional headquarters, set up 256 branch offices, and expanded its business coverage to over 140 countries and regions globally.
The company focuses on expanding overseas assets around its core green power business. In the first half of this year, the Uzbekistan Lochi and Oz energy storage projects, which represent the largest single electrochemical energy storage investment by a Chinese enterprise overseas, were successfully connected to the grid and put into operation. The company also successfully signed power purchase agreements for Kazakhstan's 300MW solar-plus-storage project, shareholder agreements for the 500MW wind-plus-storage project, and cooperation agreements for the Central Asian hydrogen energy research center.
As of the end of June 2025, the company has approved a total of 32 overseas investment projects, including 16 operational projects, 6 under construction, 10 pending implementation, and 35 key development projects currently being advanced. As multiple projects gradually enter operation, the company's overseas profit-generating capacity is expected to be rapidly realized.
While continuously expanding overseas renewable energy markets, China Energy Engineering Corporation Limited's layout and progress in nuclear power and downstream Yarlung Tsangpo River hydroelectric engineering construction has also attracted widespread investor attention.
During recent investor research sessions, China Energy Engineering Corporation Limited indicated that in the nuclear power sector, the company primarily undertakes conventional island and BOP design and construction, as well as nuclear island construction. The company has participated in over 90% of domestic operational nuclear power projects and 70% of projects under construction and planning, holding approximately 60% market share in nuclear power conventional island construction. In the first half of 2025, the company's nuclear power business contract value exceeded 10 billion yuan. In the controlled nuclear fusion field, the company focuses on core technology development, key equipment research and development, and engineering applications, emphasizing breakthroughs in key technologies such as thermonuclear fusion power island design, and promoting independent research and development of core equipment including superconducting magnets and reactors for nuclear fusion, laying the foundation for future engineering implementation of controlled nuclear fusion demonstration projects.
Regarding downstream Yarlung Tsangpo River hydroelectric engineering, the company has assembled a high-level professional team to actively participate in major national water conservancy project construction. The company possesses significant advantages and strong competitiveness in dam construction, underground powerhouse construction, water diversion tunnel construction, hydroelectric unit installation, electrical interconnection design, cement, explosives, tunnels, and highways. Leveraging its rich experience and world-leading technical capabilities in major hydroelectric projects such as Three Gorges, Baihetan, and Wudongde, the company is committed to building the Yarlung Tsangpo downstream hydroelectric project to high standards and quality.
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