Xinyuan Signs Cooperation Agreement on Market Development with E2M

On March 30, 2023, Xinyuan Smart Energy Storage Co., Ltd. ("Xinyuan"), a subsidiary of China Power International Development Limited (China Power or CPID, stock code: 02380.HK), signed a cooperation agreement on market development with E2M, a Mexican company.

Based on the principle of complementary advantages and win-win cooperation, Xinyuan and E2M reached a cooperation intention on the market development of energy storage projects in Mexico and signed a cooperation agreement on market development. In the future, E2M will take local advantage of information and channels to promote the development of the Mexican energy storage market. Zuma Energía, as CPID's platform in Mexico, will help, cooperate on and support the local market development of Xinyuan. With this cooperation as a new starting point, CPID will promote more projects in Mexico in the future.

Mexico's energy storage market has a great potential. E2M is one of the largest power distributors in the Mexican wholesale power market, with its business covering power distribution, industry consulting services, sales of electrical and mechanical products, sales of PV modules, etc., and has a high reputation and industry status in the power industry and new energy industry.