BP Invests In Chinese Clean Energy

Global oil and energy giant BP has signed a series of agreements with China to invest in clean renewable energy in the country.

The agreements involve the integration and commercialisation of clean coal conversion technologies and wind power generation.

The agreements include a deal with the China Academy of Sciences (CAS) to undertake a feasibility study into a proposed Clean Energy Commercialisation Centre (CECC) for the integration of clean energy technologies.

BP has also signed a framework agreement with investment company Beijing Tianrun New Energy Investment to construct and operate three 49.5MW wind power plants near Bayan Obo in Inner Mongolia.

The two parties have also agreed to explore further wind power investment opportunities in other areas of Inner Mongolia, says BP.

BP also signed a signed a Memorandum of Understanding with Chinese energy company Sinopec to add a new 650k tonne acetic acid plant at its Yaraco joint venture in Chongqing, southwest China.

The acetic acid plant will use BP's Cativa technology and is expected on stream in 2011.

BP, which has been operating in China since the early 1970s, has so far invested over US$4.3bn in commercial projects.

By staff writer