Energy China to invest 23.8b yuan in energy project

Beijing

CHINA Energy Engineering Group (Energy China) has signed a framework agreement with Erdos city government in Inner Mongolia, to set up an integrated energy base with total investment of 23.8 billion yuan (S$4.86 billion) in the region.

The project will add one gigawatts (GW) wind power generation capacity and five GW solar capacity, on top of the already planned eight GW coal-fired power plants in Erdos, said a statement issued by the state asset watchdog, SASAC, on Monday.

Energy China also plans to build some electricity storage facilities to go alongside with the integrated energy project, said the statement.

China is encouraging energy companies and local government to add power storage facilities when building new solar and wind power projects, in order to improve the stability and flexibility of the power grid.

Chinese President Xi Jinping announced at a United Nation summit earlier this month that China will boost its installed capacity of wind and solar power to more than 1,200 GW by 2030, and increase the share of non-fossil fuels in primary energy consumption to around 25 per cent during the same period.

In November, Energy China signed a framework agreement with Chongzuo city government to invest 82 billion yuan into a mega-sized city development project, including energy, transportation and mines restoration. REUTERS