VNET Group, a leading provider of carrier and cloud-neutral internet data center services in China, has entered into a strategic cooperation agreement with Shandong Hi-Speed Holdings Group Limited, an international investment and financing group.

Together, both companies will collaborate to build innovative computing power network infrastructures encompassing data centers, cloud computing, and big data, aiming to promote the low-carbon and high-quality development of IDC services. Earlier in November last year, VNET received around USD 299 million from SHDC.

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VNET and Shandong Hi-Speed Holdings will leverage their respective resources and strengths to develop renewable energy projects in northern China. This joint venture is committed to constructing a secure, high-efficiency, and low-carbon renewable energy infrastructure aligned with the national strategy of "East Data, West Computing."

Mr. Josh Sheng Chen, founder of VNET, stated that this partnership will capitalize on the booming digital economy. He added, "The collaboration with SDHG will provide us with a wealth of resources in the infrastructure and renewable energy space. We look forward to working together on various green energy initiatives."

About VNET Group

The VNET Group, also known as 21Vianet Group, is a leading carrier-neutral internet data center services provider in China. It was founded in 1999 and is headquartered in Beijing, China. VNET provides a wide range of data center services, including colocation, cloud hosting, and managed services.

It has over 50 data centers located in key regions across China, such as the Beijing-Tianjin-Hebei region, the Yangtze River Delta region, and the Guangdong-Hong Kong-Macao Greater Bay Area.

About Shandong Hi-Speed Holdings Group

Shandong Hi-Speed Holdings Group Limited (SDHG) is an investment holding company. SDHG has been shifting its focus from financial services to industrial investment in recent years.

In 2021, it established the industrial investment segment to pursue investments in emerging industries with high growth potential. SDHG also has two listed companies under its wing: Shandong Hi-Speed New Energy Group and Shandong High-Speed Renewable Energy Group.

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