Central regions | Energy, utilities

Russian-Chinese JV Green Energy Corporation to operate in Russia

5 Jul '11
The Russian Energy Agency, grid operator Inter RAO UES and China National Bioenergy Company have signed an agreement on setting up the joint venture Green Energy Corporation, the newspaper Power and Industry of Russia reports.

Under plans, Green Energy Corporation’s operations in Russia are to include: construction of electrical and thermal power stations working on various kinds of biomass and biogas; reconstruction of coal and oil-residual power stations for integration of energy-saving technologies with fuel compound technologies; launching plants to produce briquette pellets from peat, wood waste and other biomass; raising funds for priority projects.

Timur Ivanov, the general director of the Russian Energy Agency, commented on signing the agreement, “We have decided on a six-month term to finalize the charter capital structure, define the parties’ investment shares, the management system, as well as to form a budget and outline a few pilot projects for the company to focus on during the first year.”

Under the agreement the parties are also to set up a joint R&D center to specialize in pure energy technologies. Under plans, the parties are to organize and hold conferences, seminars and training programs in the sectors of energy efficiency, innovation and development of renewable energy sources at the premises of the Russian Energy Agency.

The JV’s investment in its projects in the Russian Federation has yet to be disclosed.

Cooperation between the federal Russian Energy Agency and the Chinese partners is carried out under the Memorandum of Understanding on cooperation in the sectors of energy efficiency and renewable energy sources use, signed between the RF Ministry of Energy and China State Committee on Development and Reforms.
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Tags: Russian Energy Agency (3) / Inter RAO UES (18) / Timur Ivanov (0) / Green Energy Corporation (0) / China National Bioenergy Company (0) /

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