CONCORD NE (00182) rose over 10% in the morning session, with its share price nearly doubling since the beginning of April. At the time of writing, the stock was up 10.71%, trading at HK$0.465 with a turnover of HK$25.0299 million.

On April 16, CONCORD NE announced that its 1GW data center capacity has completed large-scale load interconnection studies and received an interconnection permit from ERCOT. The data center is adjacent to the group's existing utility-scale photovoltaic and energy storage projects, enabling a co-located power supply model of "PV + storage + data center." Additionally, the company previously stated that it has signed multiple long-term power purchase agreements (PPAs) for photovoltaic projects in the United States with globally renowned enterprises.

Guoyuan International noted that the investment cost per watt for the U.S. projects is approximately $1, with PPA electricity prices locked in for 15 years. After considering ITC tax credits, the internal rate of return on equity is about 15%, with a full investment return exceeding 10%. In terms of financing structure, project financing can achieve a debt ratio of 80%-85%, requiring only 15%-20% in equity capital, with debt financing costs at 6%-7%. The module and energy storage battery suppliers are leading domestic enterprises. It is expected that the first U.S. PV and storage project could commence operations by 2027, contributing to profits and cash flow.