According to a report from the Economic Information Agency on the 17th, CN ANCHU ENERGY (02399) announced that it has signed a non-binding memorandum of understanding with Shenzhen Yuanxin Energy Storage Technology regarding potential cooperation in investment, development, management, and operation of various energy storage projects in Japan.

The group stated that both parties will also explore various possible ways to further enhance the value of the projects, such as securitizing the underlying assets. Shenzhen Yuanxin is a comprehensive energy storage system solution provider. The potential cooperation is expected to initially cover six energy storage projects located in Japan. The aim of the potential cooperation is to enable the group to develop energy storage businesses in other countries, thereby expanding its energy storage business footprint. Both parties will negotiate the details of the potential cooperation and will await the establishment of a legally binding agreement. (wh)