Chinese new energy firms establish JV with Aussie peer
By Yu Hongyan (chinadaily.com.cn)
2011-04-20 11:21
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Australia's CBD Eenergy Ltd announced Tuesday it will set up a joint venture with two Chinese renewable energy companies, eyeing to tap the southern country's wind power market, the 21st Business Herald reported Wednesday.
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Datang Renewable Power will hold 63.75 percent of the newly-established company; CBD Energy will own 23.75 percent; Baoding Tianwei Baobian will have the remaining 12.5 percent.
The AusChina Energy group will aim to develop $3 billion worth of wind and solar power plants in Australia within three years and $6 billion of renewable energy projects over eight years.
It also vows to grasp 33 percent of Australia's renewable energy market, the paper said.
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