China Resources Agrees to Invest $1.47 Billion for 950 Megawatts in Projects in Kenli County

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Researched by Industrial Info Resources (Sugar Land, Texas)--China Resources Wind Power Development Company Limited (Hong Kong), the new energy investment vehicle of China Resources Power Holdings Limited (HK:0836) (Hong Kong), signed a project development agreement with the government of Kenli County at the Yellow River Delta Economic & Trade Expo, which was held June 27, 2010.

According to the agreement, China Resources Power will invest $1.47 billion for the development of a 350-megawatt wind power project and a 600-megawatt cogeneration project in Kenli County.

Kenli is a county in the Yellow River Delta, an area that comprises 19 counties in Dongying, Binzhou, Weifang, Dezhou, Zibo and Yantai, and six cities with a total population of about 9.85 million. This region has attracted more and more attentions from investors, following the kick off for the construction of a highly efficient ecological economic zone in the Yellow River Delta by the State Council of China in November 2009. On this year's Yellow River Delta Economic & Trade Expo, 48 projects with a total estimated investment of $31.2 billion had been signed, including nine renewable energy projects with a total estimated investment of $9.1 billion, accounting for about 30% of the total. In addition to China Resources Power's projects, there are outstanding projects with investments from several leading Chinese enterprises. Datang Shandong Power Generation Company Limited (Jinan, Shandong), a regional subsidiary of China Datang Corporation (Beijing), signed the agreement with the government of Lijin City to invest $441 million for a photovoltaic project in Hekou District of Dongying City. Shandong's Chamber of Commerce for Oil Equipment also signed an $800 million joint venture with the Chinese-Arab Exchange Association for the Sino-Arab Oil Equipment Industry Park on the Expo.

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