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INTER RAO UES, Ministry of Energy and China’s NBE To Set Up A JV In The Field Of Renewable Energy And Energy Efficiency

Июня 17, 2011

INTER RAO UES, RF Ministry of Energy and the National Bio Energy Co., Ltd. (NBE) of China have signed an agreement on advancing cooperation in the sphere of renewable energy sources, innovations and energy efficiency.

According to this document, the parties intend to create a joint venture, Green Energy Corporation, in order to prepare and implement projects in this segment before the end of 2011. Green Energy’s activities will include building power plants that run on various types of biomass to generate thermal and electric energy, as well as biogas, reconstructing coal and oil-burning power plants with low indicators of energy and resource efficiency to integrate energy saving technologies and technologies of biomass-based fuel blends, creating plants to make briquet fuel pellets of peat, waste wood and other types of biomass.
In addition, the parties plan to establish a joint center for R&D in the sphere of clean energy technologies.
INTER RAO UES is a diversified energy holding working in various segments of Russian and international electric power industry. INTER RAO UES is a leading exporter and importer of electric energy in Russia actively increasing its electricity generation and sales activities and developing new lines of business. INTER RAO UES corporate vision is focused on making the company a global energy enterprise and a key player in the international energy market. INTER RAO UES Group owns and operates approximately 29,000 MW of installed power generating capacity.
National Bio Energy Co., Ltd. (NBE) is a Chinese company specializing in the comprehensive development and utilization of biomass energy. NBE has presented the internationally advanced biomass-firing power generation technology, invested in many biomass power generation projects and brought bio energy to commercial scale of biomass production and processing. NBE was registered in 2005. The charter capital equals 2 billion yuan ($304 million). Dragon Power Co., Ltd. owns 75% of the company’s capital, State Grid Shenzhen Energy Development Group Co., Ltd. owns a stake of 25%.
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