Munich, Germany – September 30, 2024 –GoldenPeaks Capital Holding Ltd (GPC), a leading independent power producer in Eastern Europe and China National Building Material Group Corporation (CNBM), a Fortune Global 500 enterprise, have committed to further strengthen their strategic partnership to a yearly 1GW project pipeline, adding new markets, such as Germany, Italy and Greece to their existing projects.

At a high-level meeting at the Westin Grand Munich, building on five years of trustful and successful collaboration, both companies have committed to set their sights on an ambitious plan which sees GPC developing 1GW of solar projects on an annual basis across Europe, with the strong support of CNBM as EPC (Engineering, Procurement, and Construction) contractor.

GoldenPeaks Capital as one of the fastest growing independent power producers in Eastern Europe and one of the largest photovoltaic system owners in Poland and Hungary, will further expand its capacity into western Europe, including Germany, Italy and Greece.

Adriano Agosti, Founder and President of GoldenPeaks Capital, said: “We are thrilled to focus on additional markets in Western Europe. In Germany we will look into several projects, but especially Bavaria, with its long sun-hours and relevant industry leaders, has high potential. By closely collaborating with CNBM and Triumph, we are confident to meet the goal of developing 1GW of new projects on a yearly basis. Our combined expertise will allow us to unlock exceptional opportunities in the European market and beyond.”

Mr. Yuxian Zhou, Chairman of CNBM stated: “We are proud of our joint successes of the past five years and now look forward to accelerating our growth together. This partnership underscores our shared vision of advancing clean energy on a global scale.”

Annual Project Expansion of 1 GW

In their meeting in Munich, the leadership teams from CNBM and GPC reaffirmed their commitment to drive their partnership even further forward. With more than 1GW of new projects in the development pipeline, GPC aims to continue breaking new ground in Europe’s renewable energy market with Triumph as its EPC partner. By integrating Triumph’s domestic expertise with GPC’s deep knowledge in project development, procurement, and financial structuring, this collaboration is expected to reach new heights in the coming years. In the short term 1 GW is already going into construction in 2025 and a further 2.5 GW are under development for 2026/2027.

A Proven Partnership

The partnership between CNBM, through its subsidiary Triumph Science & Technology Group, and GPC has already achieved significant success since its inception five years ago. GPC has since then developed projects that blend Triumph’s experience in innovative materials and clean energy technology with GPC's proven track record in solar energy development. The two companies have been able to leverage their respective strengths enabling GPC to scale renewable energy projects across Europe.

GPC currently operates 800 MW of renewable energy projects, with an additional pipeline of 1.4 GW under construction or ready for development. As the leading comprehensive subsidiary of CNBM, Triumph plays a pivotal role being the EPC contractor supporting GPC’s development. Triumph provides essential research, engineering services, and manufacturing capabilities, ensuring a robust and efficient supply chain for these large-scale renewable energy projects.

Daniel Tain, Co-Founder of GoldenPeaks Capital added: "Our further strengthened partnership with CNBM and Triumph represents a significant milestone in the renewable energy landscape. This commitment has solidified our shared ambition to drive large-scale solar projects forward. With the expertise and commitment of both sides, I am confident that we will not only meet our 1GW annual target, but also play a pivotal role in the transition to a cleaner energy future."

About CNBM

China National Building Material Group Corporation (CNBM) is a Fortune Global 500 company with over 200,000 employees and operations across diverse material industries. CNBM’s Triumph Science & Technology Group is a leader in innovative CNBM’s new glass materials and engineering services, making significant contributions to the global development of renewable energy.

About GoldenPeaks Capital

GoldenPeaks Capital, is a company specializing in the construction and operation of solar systems and one of the largest photovoltaic system owners in Eastern Europe with over 15 years of experience in structuring energy

projects globally. GoldenPeaks Capital will further increase the pace of shaping the industry of renewable energies by applying the seamless integration of all sectors of GPC, such as project development & engineering, financing & structuring, supply chain management, construction & commissioning, asset operations, and commercial & energy sales, ensuring an invaluable alignment of methodologies, ethics and goals. 

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This press release was produced by and the opinions expressed are those of GoldenPeaks Capital as of the date of writing and are subject to change. It has been prepared solely for information purposes. Any reference to past performance is not necessarily a guide to the future. To the extent there are any forward-looking statements, these statements are based on the company’s current expectations and projections regarding its business, operations and other factors relating thereto. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors. The information and analysis contained in this publication have been compiled or arrived at from sources believed to be reliable but GoldenPeaks Capital does not make any representation as to their accuracy or completeness and does not accept liability for any loss arising from the use hereof.