Zhejiang Provincial New Energy Investment to Raise Stake in Joint Venture for 202 Million Yuan; Shares Up 4%

MT Newswires Live

2025/05/27

Zhejiang Provincial New Energy Investment Group (SHA:600032) plans to acquire an additional 29% equity in joint venture subsidiary Zhejiang Zheneng Fuyang Chang'an Pumped Storage for 201.8 million yuan, according to a Shanghai bourse filing on Tuesday.

The Chinese investment company will acquire the stake through its unit, Zhejiang Zheneng Green Energy Power Development, from its joint venture partner, Zhejiang Energy International.

After the completion of the transaction, Zheneng Green Energy Power's stake in Zheneng Fuyang Chang'an Pumped Storage will rise to 80% from 51%, the filing said.

The company's shares jumped over 4% in recent trade.

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