China Resources Power to Invest $1.47 Billion in Power 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 (HKG:0836) (Hong Kong), signed a project development agreement with the government of Kenli County at the Yellow River Delta Economic & Trade Expo, held on June 27, 2010.

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

Kenli is a county located in the Yellow River Delta, an area comprised of 19 counties (districts) in six cities: Dongying, Binzhou, Weifang, Dezhou, Zibo and Yantai, which have a total population of about 9.85 million people. Following the beginning of construction on a highly efficient, environmentally friendly economic zone in the Yellow River Delta by the State Council of China in November 2009, the region has attracted increased attention from investors.

Atn this year's Yellow River Delta Economic & Trade Expo, contracts were signed for 48 projects with a total estimated investment value of $31.2 billion, 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 also projects from several leading Chinese enterprises. Datang Shandong Power Generation Company Limited (Jinan, Shandong), a regional subsidiary of China Datang Corporation (Beijing), signed an agreement with the government of Lijin City to invest $441 million for a photovoltaic project in the Hekou district of Dongying. Shandong Chamber of Commerce on Oil Equipment also signed an $800 million joint venture with the Chinese-Arab Exchange Association for the Sino-Arab Oil Equipment Industry Park at the expo.

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