China set for additional 1,650MW of wind power
INNER MONGOLIA - A Middle-Eastern investment fund is set to turn 2.2m sq metres of Mongolian steppe into a £1billion collection of five wind farms.
Arcapita Bank, a Bahrain investment firm, has acquired Chinese wind energy generation firm, Honiton Energy Holdings, which will spearhead the plan for the development.
The giant Inner Mongolian project will cover five different sites and generate around 1,650 MW of power, increasing ChinaÂ’s wind power generation from around 6,000 MW to 7,750 MW. Arcapita has linked up with Singapore-based Colossus Holdings for the project.
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Lebanon Cabinet approves watershed electricity sector reform
BEIRUT - Lebanon’s Cabinet has approved a much-anticipated plan to restructure the country’s dysfunctional electricity sector which hasn’t been developed since the time of the country’s civil war, decades ago.
The Lebanese depend on a network of private generator providers and decrepit power plants that rely on expensive fuel oil. Subsidies to the state electricity company cost nearly $2 billion a year.
For years, reform of the electricity sector has been a major demand of Lebanon’s population of over 5 million. But frequent political stalemates, corruption and infighting among politicians, entrenched since the civil war that began in 1975, often derailed reforms.
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