CPID (02380.HK): Clean Development Speeds Up Again! Macheng New Energy Base Project Is Synchronized

Macheng New Energy Base Project with a planned capacity of 1,000 MW is developed by China Power International Development Limited (China Power or CPID, stock code: 2380). Recently, a total of 30 MW capacity of the first phase (400 MW) was connected to the grid for the first time, which is an important milestone in the construction of the project and for CPID to build a world-class green and low-carbon energy supplier.

Located in Macheng City, Hubei Province, the project is constructed and managed by CPID's Dabieshan Power Generation Company. The first phase of the project has a planned capacity of 400 MW and will be connected to Hubei power grid through the existing 500 kV power transmission line of Dabieshan Power Generation Company. The connection mode is the first in Central China and even China without any precedent reference, realizing complementation between thermal power and new energy power, better fitting the need to build a clean, low-carbon, safe and efficient energy system, helping Hubei Province to steadily promote the construction of a new power system.

CPID will continue to take advantage of its clean energy presence in Hubei Province, build a new pattern of green and low-carbon industrial development, accelerate the construction of the first phase of Macheng New Energy Base Project, fully promote the construction of the follow-up second and third phases to a high standard, achieve full-capacity grid connection of the project as soon as possible, boost the rural revitalization, give back more green and low-carbon clean energy to the old revolutionary areas and accelerate the realization of the carbon peaking and carbon neutrality goals.