Zhongli Group and Shanghai Electric Power have reached a comprehensive strategic cooperation agreement, under which they will jointly develop photovoltaic projects with a total capacity of no less than 1 GW during the 14th Five-Year Plan period.

Recently, Zhongli Group and Shanghai Electric Power Co., Ltd. (hereinafter referred to as “Shanghai Electric”) signed a Comprehensive Strategic Cooperation Agreement. The two parties will focus on investment in the photovoltaic power generation industry and innovation in energy technologies, engaging in multi‑level, all‑round, in‑depth strategic cooperation, with plans to complete collaborative projects for at least 1 GW of photovoltaic power plants during the 14th Five-Year Plan period.

To implement the national “dual carbon” strategy, Zhongli Group and Shanghai Electric, guided by the principles of “equality and mutual benefit, complementary strengths, and common development,” have reached consensus on building a green, low-carbon, circular economic system; enhancing energy efficiency; increasing the share of non‑fossil energy consumption; reducing carbon dioxide emissions; and strengthening the carbon sink capacity of ecosystems. Shanghai Electric has designated Zhongli Group as a key strategic supplier, and the two parties will collaborate in areas such as technological innovation, strategic investment, international project development, supply chain management, and production services. Key areas of cooperation include:

I. Future Technology Innovation Platform. Both parties look forward to jointly establishing a platform for future technological innovation, fostering comprehensive cooperation in areas such as R&D, testing, standard-setting, technology transfer, and talent development within the photovoltaic sector. They will further explore the application of key technologies—including green, low-carbon energy centered on photovoltaics, artificial intelligence, the energy Internet of Things, and blockchain—and, leveraging their respective technological leadership in photovoltaics, energy storage, multi-energy complementarity, and integrated smart energy, co‑develop demonstration projects for the new‑energy Internet of Things within China.

II. Strategic Investment Cooperation Platform. Both parties are committed to implementing the national energy development strategy, adhering to the principles of clean, low‑carbon, safe, and efficient development, and aligning with the global trend of energy transition. By establishing a strategic investment cooperation platform, they will collaborate across project acquisition, investment, development, construction, and operations. During the 14th Five-Year Plan period, the two sides aim to complete cooperative projects totaling at least 1 GW of photovoltaic capacity.

III. International Cooperation Platform. Both parties look forward to jointly establishing an international cooperation platform, leveraging their respective strengths to collaboratively develop overseas projects. They will engage in cooperation across project transfer, development, mergers and acquisitions, and operations, integrating their resources, capitalizing on their unique advantages, expanding into foreign markets, and achieving shared growth. Taking large-scale ground-mounted photovoltaic power plants in specific overseas regions as a starting point, they will pursue in-depth collaboration in areas such as the acquisition of existing projects, the development of new projects, financing, construction, operation, and asset management, thereby expanding high‑quality projects and assets in the global new‑energy sector and meeting the development needs of both partners.

IV. Supply Chain Strategic Cooperation Platform. Both parties intend to jointly establish a supply chain strategic cooperation platform. For collaborative projects, and subject to compliance with Chinese laws and regulations (and, for overseas projects, with the applicable laws and regulations of the project’s location), as well as with the relevant procurement management and other internal policies of both parties, priority shall be given, under equal market, technical, and commercial conditions, to procuring equipment, technical services, engineering construction, intelligent operations and maintenance, and other related services provided by one of the parties. In areas such as photovoltaic modules, mounting structures, energy storage products, technical services, engineering construction, and intelligent operations and maintenance, Zhongli Group is willing to offer the most advanced technologies and services at preferential prices to the collaborative projects.

V. Production and Service Cooperation Platform. Both sides look forward to jointly establishing a production and service cooperation platform. In the area of technological cooperation, they will collaborate through experience sharing and personnel training, thereby enhancing both technical expertise and management capabilities. In the realm of productive services, they anticipate engaging in cooperation across such fields as project operations and maintenance, technical services, spare parts and components, contract energy management, finance, capital markets, and trade and logistics.

Shanghai Electric Power is one of the State Power Investment Corporation’s principal listed companies and also one of Shanghai’s leading power‑energy enterprises. Today, Shanghai Electric Power has evolved into a modern energy company that integrates high‑parameter, large‑capacity coal‑fired and gas‑fired power generation with wind, solar, and distributed‑generation capabilities. Its business footprint spans the East China region and is steadily expanding overseas. The signing of a comprehensive strategic cooperation agreement with Shanghai Electric Power will enable Zhongli Group to pursue photovoltaic power‑plant development, investment, construction, and operations in a diversified manner, further broadening its presence in domestic and international new‑energy markets and laying a solid foundation for the company to become a leading provider of clean energy and energy‑saving, environmentally friendly solutions.