The renewable energy firm Mulilo Renewable Energy (MRE) located in Cape Town has signed an agreement with China Longyuan Corporation, the Asian wind farm developer. The deal was made during a government level Chinese-South African energy summit in Cape Town, SA. The agreement is to form a new company which will be known as Longyuan-Mulilo Green Energy also comprising of China-Africa Development Fund.
MRE chairperson Chris Aberdein and China Longyuan Corporation president Xie Changjun signed the agreement along with Dipuo Peters, South African Minister of Energy and Zhang Guobao, Chinese Energy Minister who witnessed the deal. The deal made during the Cape Town summit involved around 60 delegates from 10 companies from China, South African government and business leaders. The communities near company’s wind farms will have trust-held shares from 10% to 15% in the projects.
Johnny Cullum, the director of MRE said Longyuan and Mulilo formal shareholder agreement has build up a strong relationship and was looking to get ready for national bidding process for the provision of wind power in the country that is expected to begin next year. He also said they can display a strong state of awareness to handle the projects which can become a strong reason for the government during the process of bidding.
The projects are expected to be funded by Chinese and after getting the approval they can start generating energy within 1 yr. The partnership is also the first real investment made by Chinese Energy Corporation in South African state which is also a honest promise by China to help the initiatives in South Africa. The sustainable wind energy aims around 4 500 MW by 2019 which is around 10% of power requirements in South Africa. China Guodian Corporation, the parent company and Longyuan are very important participants in the Chinese renewable energy who are the largest renewable energy providers globally said Cullum.
No comments:
Post a Comment