Chinese-Russian deal will pursue
hydropower projects: energy company
Oct 20, 2010 - Xinhua
Russia had recently sealed a framework
agreement with China to develop hydropower, the country's
independent energy company EuroSibEnergo said late
The deal was signed by Cao Guangjing,
chairman of China Yangtze Power, the largest listed
hydropower producer in China, and EuroSibEnergo chairman
The two companies preliminarily agreed to "explore
joint development opportunities for power projects
in Russia, potentially including the upgrading of
EuroSibEnergo's power assets and the construction
of new hydropower plants in Russia, with the specific
focus on Siberia."
They also agreed to "make coordinated efforts
to obtain support from their regulatory bodies and
electricity grid companies."
"Russia, the Siberian region in particular,
has significant undeveloped hydroelectric resources.
This agreement strengthens energy cooperation between
Russia and China," Likhachev said.
Cao said: "Russia has an abundant supply of
hydropower resources, while China has enormous demand
for power. Our joint development of hydropower resources
is strategically important not only for the two companies,
but for Sino-Russia cooperation."