Metalnewsnet 17 May ：

China Knowledge reported that China Guodian Corp a state owned power giant based in Beijing inked a cooperated agreement with the Shanghai municipal government to promote the development of new energy.

According to the agreement the company will set up Guodian Northern China New Energy Investment Co Ltd in Minhang District in Shanghai. The new company will invest in wind power and solar power and will demonstrate the use of distributed power generation and tidal power.

It will also cooperate with SAIC Motor Corp Ltd to set up a project in Jiangsu Province to demonstrate the use of gas turbines, gasification and power system integration.

Mr Zhu Yongfan Chairman of China Guodian said the company plans to increase the proportion of renewable energy and nuclear power installed capacity to more than 30% of the total by 2015. By 2020, this proportion will be increased to 40%.

(from China Knowledge)