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Firms to invest in US renewable energy
(Xinhua)
Updated: 2009-10-30 05:02 WASHINGTON: Chinese and US firms Thursday signed an agreement to develop a 600 mW wind farm in Texas, the largest Chinese investment in US renewable energy. The US Renewable Energy Group (US-REG) and Cielo Wind Power LP said that they will work with China's Shenyang Power Group (SPG) on the project, which was expected to cost $1.5 billion. "US-REG, SPG, and Cielo Wind Power LP are combining investment, expertise, and resources to bring clean, reliable and affordable renewable technologies to the marketplace," said Cappy McGarr, US- REG Managing Partner in a statement. "This planned $1.5 billion investment in wind energy will spur tremendous growth in the renewable energy sector and directly create hundreds of high-paying American jobs," he noted.
"China and the US of course share the common goal of bringing cost-effective and environmentally responsible renewable energy to millions of homes across the world," said Yang. "The Chinese government is proud to be a positive force that spurs ground-breaking, broad-range and in-depth cooperation between the US and China and any ensuing mutual benefits for our two great economies," he added. (For more biz stories, please visit Industries)
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