China Resources Power buys coalmines, renewables
SHANXI, CHINA - China Resources CR Power Holdings will finalize buying coalmines in northern Shanxi province soon and aims to boost selfsufficiency in coal to around one third of its consumption in 2012, a top company official said.
The countrys fourthlargest listed power company by market value is expected to buy 21 coal mines in Shanxi capital Taiyuan with total production capacity of more than 7 million tonnes a year and consolidate them into 13 mines, Chief Executive Officer Wang Shuai Ting told Reuters in an interview.
This will come after its purchase of 39 coalmines in Shanxi last year via joint venture Shanxi China Resources Liansheng Energy, as CR Power aims to secure coal supplies and cut costs.
The company will also invest 8 billion yuan US $1.17 billion to 10 billion yuan annually in renewable energy over the next three to five years and boost renewable energy to account for 15 percent of its energy mix, up from 4.7 percent now, Wang said on the sidelines of a regional power conference.
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CAIRO - Egypt is planning to expand into renewable energy projects in a bid to increase its contribution to the energy mix, the country’s minister of electricity and renewable energy Mohamed Shaker said.
Renewable power is expected to add 6.6 gigawatts (GW) by the end of 2020, with plans to reach 8,200 megawatts (MW) after the completion of the renewable energy projects currently under consideration, Shaker added in a statement on Tuesday.
This came during the minister’s video-conference meeting with the British ambassador to Egypt Geoffrey Adams to explore the potential means for cooperation between the two countries in the electricity sector.
