Finnish technology group Wärtsilä and a China Huaneng Group subsidiary have agreed to work together on renewable development.
China Huaneng Group provincial subsidiary Huaneng Jiangsu entered into a strategic cooperation framework agreement with Wärtsilä to work on renewable energy development in Jiangsu.
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The agreement aims to develop more sustainable and flexible power generation using the internal combustion engine technology. This will enable more renewable resources integration into the Jiangsu grid.
Wärtsilä noted that the deal aligns with the country’s energy security strategy of “four revolutions and one cooperation.” This involves lessening energy consumption, establishing a diversified energy supply system, upgrades to energy technology, and accelerating energy sector development.
The strategy also aims to reinforce international cooperation to obtain energy security under open conditions.
Huaneng Jiangsu chairman Cao Qingwei said: “I appreciate Wärtsilä’s willingness to cooperate and enhance EU-China cooperation on energy.
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By GlobalData“This will help us to innovate and take advantage of market opportunities in ancillary services, such as frequency regulation and peak shaving in Jiangsu province. Implementation of ICE technology will help China to accelerate its transition towards clean energy.”
Last year, Wärtsilä has released a new report which shows potential for G20 stimulus packages to accelerate energy transition towards renewable energy systems and economic recovery.
