Sunshine Oilsands Unit Signs Framework Deal for New Energy Projects in China; Shares Gain 1%

MT Newswires Live11-25

Sunshine Oilsands (HKG:2012) said its wholly owned subsidiary Sang Xiang Petroleum & Chemical (Shanghai) has signed a non-binding cooperation framework agreement with Southern Power Grid Energy Efficiency and Clean Energy (SHE:003035), according to a Monday bourse filing.

Shares of the firm were up 1% in Tuesday morning trade.

The agreement covers the exploration of new energy projects in Shandong and Guangdong.

The companies plan to collaborate on carbon reduction, energy conservation, heating, cooling, and other new energy initiatives.

Sunshine will handle project sourcing, preliminary assessments, and early-stage development, while Southern Power Energy will provide expertise in financing, construction management, and power plant operations.

The framework agreement is effective until Dec. 31, 2026, the filing said.

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