Sumitomo and Datang to join forces in Chinese renewable energy market

Thursday, 26 August 2010 16:10:58 (GMT+2)

Japanese diversified industrial group Sumitomo Corporation Group and its Chinese subsidiary Sumitomo Corporation (China) Holding Ltd (Sumitomo China) have signed a framework cooperation agreement in the area of renewable energy with Chinese renewable energy company China Datang Corporation Renewable Power Co Ltd (Datang).

According to an official press release, following the conclusion of this agreement, Sumitomo Corporation, Sumitomo China and Datang will reinforce efforts to develop cooperative projects in China and other countries in renewable energy fields including wind, solar, biomass and CDM (Clean Development Mechanism).

Sumitomo Corporation Group has a good track record of a photovoltaic power plant project in Spain, wind power generation projects in US and China, in addition to biomass power generation project and wind power generation projects in Japan, and is now looking to expand to China. The company plans to invest about RMB 5 trillion from 2011 to 2020 in China in the area of renewable energy.

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