China Resources Power buys coalmines, renewables

subscribe

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.

Related News

nuclear power plant

What's at stake if Davis-Besse and other nuclear plants close early?

LOS ANGELES - A national nuclear lobby wants to remind people what's at stake for Ohio and Pennsylvania if FirstEnergy Solutions follows through with plans to shut down three nuclear plants over the next three years, including its Davis-Besse nuclear plant east of Toledo.

A report issued Monday by Nuclear Matters largely echoes concerns raised by FES, a subsidiary of FirstEnergy Corp., and other supporters of nuclear power about economic and environmental hardships that will likely result from the planned closures.

Along with Davis-Besse, Perry nuclear plant east of Cleveland and the twin-reactor Beaver Valley nuclear complex west of Pittsburgh are slated…

READ MORE
biden-imposes-higher-tariffs

Biden Imposes Higher Tariffs on Chinese Electric Cars and Solar Cells

READ MORE

Sustainable Marine now delivering electricity to Nova Scotia grid from tidal energy

READ MORE

rolls royce nuclear

Rolls-Royce expecting UK approval for mini nuclear reactor by mid-2024

READ MORE

uk wind power

Biggest offshore windfarm to start UK supply this week

READ MORE