China nuclear giant in RE pact
Renewables developer China Wind Power (CWP) says it has signed a co-operation deal to build 700MW of wind and solar plants with Chinese nuclear giant CNNC.
Hong Kong-listed CWP told investors it will co-invest in and construct wind and solar projects in China in conjunction with CNNC Rich Energy.
CWP’s new partner is a wholly-owned subsidiary of CNNC (China National Nuclear Corporation), China’s state nuclear organisation, which lists developing the nation's atom and hydrogen bombs among its achievements on its website.
CWP said the two will target 100MW of projects this year, and 500MW of wind and 200MW of solar projects by 2015.
The move would appear to signal a greater interest in renewable energy by CNNC, although little information is publicly available on its previous forays into wind and solar.
CNNC announced the operation of its first wind farm, a 50MW project in Gansu province, at the end of 2010, and briefly notes approval for a second plant in Fujian province late last year.
CWP had 1.4GW of wind and 100MW of solar in operation by the end of 2012, according to its last annual report.