On June 1, 2016, HEI formally signed investment agreement documents for a power purchase agreement and project company shareholders agreement for the UAE Dubai Hassyan 2400MW Clean Coal-Fired Power Plant BOO Project with a project company made up of Saudi Arabia’s ACWA company along with Dubai’s Electric and Water Authority (DEWA). The signing of this investment agreement signifies that HEI and ACWA have formally obtained the development rights to the Dubai Hassyan project.

At the signing ceremony, chairman of the board of directors of DEWA Mr. Saeed Mohammed Al Tayer, vice president of HEI Mr. Qu Zhe, and chairman of the board of AWCA Mr. Mohammad Abdullah Abunayyan all gave speeches. Mr. Tayer said that the Hassyan project is an important project in the Dubai government’s plan for energy strategy. He thanked HEI and ACWA for the huge amount of effort they have put into the development of the project and at the same time, gave complete affirmation of the EPC executive capacity and the achievements made by HEI.

In his speech, Qu Zhe thanked ACWA for the full trust and great support it has given and said that the Dubai Hassyan project is the first coal-fired power plant project in the Middle East and also the first project HEI has invested in and been contracted for in the Middle East. The successful signing of the investment agreement signifies the diversified strategic development of HEI and that the industrial transformation has taken another important step. HEI will continue to put in effort, strictly adhere to the content of the contract and guarantee the smooth progress of the project. Qu Zhe also hoped that the collaboration with DEWA and ACWA could be further strengthened henceforth and win-win with DEWA could be achieved in the project.

The timely signing of the DEWA Hassyan project investment documents not only guaranteed the smooth enactment of the project plan but also put up a robust foundation for strategic development in Dubai’s electric power investment field for both sides. The formal signing of the Dubai Hassyan project power purchase agreement achieved a breakthrough in HEI’s investment projects and also signified that the investment operation format in the "four operation formats" strategy has achieved substantial progress and achieved successful extension in the business operations field and at the same time it has allowed HEI to infiltrate the high-end Middle East market, which had been monopolized for so many years by European, American, Japanese and Korean companies. Participating in this project will greatly enhance HEI’s brand recognition and be an important and significant milestone in HEI’s future development and succeeding market development.

HEI’s secretaries of the party committee, Vice President Qu Aimin and Chief Economic Manager Zhang Zhenjiang, Marketing Director Ge Xin, Project Director XU Hong Fu, General Manager Assistant Chen Guofeng and other leaders attended the signing ceremony.