Guangzhou Development Group Incorporated (600098.SH) Subsidiary to Bid for 50% Stake in CLP (Fumin) Pumped Storage Development Co.

Stock News

10/31

Guangzhou Development Group Incorporated (600098.SH) announced that its wholly-owned subsidiary, Guangzhou Development Power Group Co., Ltd., plans to participate in the auction for a 50% stake in CLP (Fumin) Pumped Storage Development Co., with a reserve price of 53.2284 million yuan. The move aligns with national strategies to achieve carbon neutrality and build a new power system, while securing high-quality pumped storage project resources to drive industrial transformation and synergistic growth.

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