CR Cement and CR Power entered into a framework agreement in relation to the cooperation in the Integrated Energy Project.

China Resources Cement Holdings announced that on November 8, 2023, the company entered into a framework agreement with China Resources Power on the cooperation of integrated energy projects, and accordingly entered into an annual cap for the term of the framework agreement.

It is reported that China Resources Power Group will use the group's roof, idle land and related storage and operation space to install photovoltaic power plant facilities, and supply electricity and provide integrated energy services to the group after the photovoltaic power plant generates electricity. CR Power Group takes advantage of the resources in the power industry to build energy storage and cold storage projects based on the peak-valley price difference of the Group's power consumption throughout the day and according to the Group's energy demand and situation, so as to supply power and provide integrated energy services for the Group.

The announcement said that the transaction under the framework agreement provides a good opportunity for the group to explore the use of comprehensive energy in line with the Chinese government's "carbon peak, carbon neutral" policy. China Resources Power Group has excellent qualifications and capabilities to provide stable and reliable integrated energy services for the Group. The cooperation under the Framework Agreement will support the development within the CRH Group on normal commercial terms and to the extent that it does not put the Group's resources at risk or affect its relationships with other independent third party suppliers.