China Guodian to Develop Energy Projects worth $3bn

24 May 2011 (Last Updated May 24th, 2011 18:30)

China Guodian has signed an agreement with the Chongqing Municipal Government for the development of energy projects in China over the next five years. The company plans to invest CNY20bn ($3bn) for the construction of thermal power stations, wind power stations, natural gas power stat

China Guodian has signed an agreement with the Chongqing Municipal Government for the development of energy projects in China over the next five years.

The company plans to invest CNY20bn ($3bn) for the construction of thermal power stations, wind power stations, natural gas power stations and biomass power stations in Chongqing and its surrounding regions.

China Guodian general manager told local media that Zhu Yongpeng said Chongqing's fast economic growth has brought many opportunities for the development of energy.

He estimates that the region's power consumption will increase at an annual average rate of 12.1% over the next five years.