Shares of CONCORD NE (HKEX: 00182)

have surged more than 10%, extending recent gains. At the time of writing, the stock is up 9.2% to HK$0.475, with a turnover of HK$44.94 million.

The move follows the company's announcement that its 1-gigawatt data center project has completed a major load interconnection study and has received grid connection permission from the Electric Reliability Council of Texas (ERCOT). The data center is located adjacent to the group's existing utility-scale solar and energy storage projects, enabling a co-located "solar-plus-storage-plus-data center" power supply model.

It has been noted that for 2025, several of the group's US solar projects have signed long-term power purchase agreements with leading global technology companies. The company has also successfully secured approval for a secondary listing on the Mainboard of the Singapore Exchange, laying the groundwork for future overseas financing and business expansion.

Analysts previously pointed out that the investment cost for the US projects is approximately US$1 per watt, with power purchase agreement prices locked in for 15 years. After accounting for Investment Tax Credit (ITC) deductions, the equity internal rate of return is estimated at around 15%, with the all-in project return exceeding 10%.

Regarding the financing structure, project financing can achieve a debt ratio of 80%-85% without requiring corporate-level guarantees, meaning the equity contribution needed is only 15%-20%. The debt financing cost is estimated at 6%-7%. Both the solar module and battery storage system suppliers are leading domestic Chinese enterprises. The first US solar-plus-storage project is anticipated to commence operations in 2027, contributing to profits and cash flow.