Repeats story revealed on Thursday with no change to textual content
Repeats story revealed on Thursday with no change to textual content
BEIJING, Nov 19 (Reuters) – China’s State Energy Funding Corp (SPIC) has accomplished its buy of Mexico’s largest unbiased renewable energy firm Zuma Energia, SPIC stated on Thursday, furthering targets to extend its abroad and inexperienced technology capability.
SPIC, one in every of China’s prime 5 energy producers, didn’t disclose the worth of the acquisition, however stated it is going to totally personal the Mexican firm.
“The funding by SPIC in Zuma signifies our steady dedication and help for clear and renewable energy technology,” Qian Zhimin, chairman of SPIC, stated in a press release.
As of end-October, the Chinese language state-backed energy generator had put in electrical energy technology capability of 165 gigawatts (GW), of which 53.3% comes from non-coal power sources.
Zuma Energia has put in capability of 818 megawatts from two photo voltaic crops in Sonora and Chihuahua and two wind farms in Tamaulipas and Oaxaca.
“We’ve got constructed a strong platform to search for a number of avenues of regional development and the help of SPIC will enable us to proceed our mission of constructing a big contribution to a world clear power system,” Adrian Katzew, Chief Govt Officer of Zuma, stated in a press release.
The deal would assist SPIC to fulfill its 2020 goal of getting eight GW of abroad energy technology capability. By March, it had put in 5.21 GW exterior China and had 1.47 GW tasks below development.
The Zuma acquisition was made by SPIC’s Hong Kong-based subsidiary, China Energy Worldwide Holding Ltd (CPIH) 2380.HK.
CPIH in September signed a memorandum of understanding (MoU) with Norwegian power agency Equinor to cooperate in offshore wind growth in China and Europe.
(Reporting by Muyu Xu in Beijing and Florence Tan in Singapore; Modifying by Barbara Lewis and David Evans)
(([email protected]; +86 10 56692117;))
The views and opinions expressed herein are the views and opinions of the writer and don’t essentially mirror these of Nasdaq, Inc.