Econcern to lead $1 bln China wind
Dec 2, 2008 - Reuters
Clean energy company Econcern will partner with China
National Offshore Oil Corp and Sinohydro to invest
863 million euros ($1.09 billion) to build four Chinese
wind farms, the companies said on Tuesday.
Construction of the wind farms, which will generate
around 720 megawatts (MW) of renewable energy, will
begin in 2009, Netherlands-based Econcern said in
As atmospheric greenhouse gas levels from burning
fossil fuels rise, increasing the threat of potentially
devastating climate change, more companies are looking
to invest in renewable sources of energy like wind
"Traditional energy suppliers focus on conventional
models and solutions, but this is no longer sustainable
in any sense," Econcern Chairman Ad van Wijk said.
"Sustainable energy is the only long term viable option."
Last month, BP Alternative Energy, a unit of oil
group BP Plc, pulled out of a partnership in a 148.5
MW Chinese wind farm project, saying it had decided
to suspend its wind power business in Asia.
Econcern's announcement comes on the sidelines of
UN-sponsored climate talks in Poznan, Poland where
governments are working towards a new treaty to fight
(Reporting by Michael Szabo; Editing by Sue Thomas)
($1=.7931 Euro) Keywords: CHINA/WIND
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