A subsidiary of Green Power Group (01870) competed for 15.78 million yuan for land use rights in Lechang, Shaoguan, Guangdong to be used for the construction and development of energy storage projects

According to Zhitong Finance App, Green Power Group (01870) issued an announcement. On September 14, 2026, the Lechang Natural Resources Bureau issued a confirmation letter dated September 1, 2026 to Lechang Green Power Energy Storage Technology Co., Ltd. (buyer), an indirect wholly-owned subsidiary of the company, confirming that the buyer successfully competed for land use rights at a cost of RMB 15.78 million through a public listing and bidding process. Due to the successful bid, the buyer must submit an application for a land use concession contract within five working days from the date of the confirmation letter. The buyer and the authorities are expected to conclude a land use concession contract within 30 days from the date of the confirmation letter.

The land is intended to be used by the Group for the construction and development of this project. The land is a plot of land (no. #PS -G 01A-11) located in Hefeng Village, Pingshi Town, Lechang City, Shaoguan City, Guangdong Province, China, covering an area of about 29,115 square meters. The project indicates that the Group plans to develop an energy storage project called the “Shaoguan Lechang 218 MW/436 MW Electrochemical Independent Energy Storage Project”.

The Group plans to develop this project to seize strategic opportunities in the emerging infrastructure sector in the context of the global energy transition. To advance the project, the Group has bid to acquire the land, and the project will be built and developed on the land for operational use.

The land is close to the 500 kV and 220 kV regional power grids operated by Guangdong Power Grid Co., Ltd., providing strong and stable grid access for the project. It also has enough flat land to accommodate large-scale energy storage facilities, and can share existing public infrastructure such as water supply, drainage, fire protection and roads. These supporting facilities help reduce development costs and construction complexity.

Given its excellent location close to the power grid and surrounding supporting facilities, the Group's management considered the land an ideal location for the Group to develop the project. Furthermore, Guangdong Province has one of the most developed and market-based electricity trading environments in China. In addition, local governments in Lechang and Pingshi have strongly supported the project, making the land an ideal site for the project.