China Energy and State Grid Sign Strategic Cooperation Framework Agreement

China Energy Investment Corporation (hereinafter “China Energy”) and State Grid Corporation of China (hereinafter “State Grid”) signed a strategic cooperation framework agreement in Beijing on May 24. According to the agreement, the two sides will give full play to their respective advantages, uphold the concept of new development and serve China’s new development pattern. With enhancing the country’s innovation capacity in the energy industry as the main goal, the two sides will carry out extensive cooperation in fields such as construction of a new-type power system with new energy as the mainstay, technological innovation, development of strategic emerging industries, integrated energy services, exploration of the international market, capital and financial operations, and technical and management personnel exchange, so as to make contributions to ensuring national energy security and realizing the goals of carbon peaking and carbon neutralization.

The signing ceremony of the strategic cooperation framework agreement.

China Energy will vigorously advance green transformation of the energy industry and accelerate the construction of a 10GW integrated energy base. Taking the signing of the agreement as an opportunity, the two sides will build a regular coordinating mechanism to further align their work in energy network planning, construction and marketing. They will work together to make breakthroughs in the research of key and core technologies for high-quality development of the energy industry, and build a clean, low-carbon, safe, and efficient energy network.