POZNAN, Poland, December 2 /PRNewswire/ --
- Deal Would Make Econcern a Major Player in Chinese Sustainable Energy Market
Econcern has announced from its Sustainable Energy Event, running alongside the COP14 in Poznan, agreements to invest EUR863m in onshore wind farms in China. The agreements represent over 720 MW of sustainable energy capacity.
Econcern, global sustainable energy solutions provider, has signed term sheets for three onshore wind farm projects with CNOOC New Energy (a full subsidiary of China National Offshore Oil Corporation) and for one onshore wind farm project with SINOHYDRO Renewable Energy (a full subsidiary of SINOHYDRO Corporation). Combined the deals mean an investment of EUR863m; which will make Econcern a major player in the Chinese sustainable energy market. Construction of the projects is expected to start in 2009.
The agreements with these two major and strong Chinese partners help reinforce Econcern's position as a leading global supplier of sustainable energy solutions.
Econcern chairman of the board, Ad van Wijk, commented, The size and scope of these agreements prove that a sustainable energy supply for everyone is absolutely achievable - it can be done and we are showing how. Econcern has ambitious growth targets; these deals show that investment in sustainable solutions remain strong despite the current situation with the financial markets.
Traditional energy suppliers focus on conventional models and solutions, but this is no longer sustainable in any sense - sustainable energy is the only long term viable option. We have come to Poznan to host the Econcern Sustainable Energy Event alongside the UN Framework Convention on Climate Change. During this intensive twelve-day event, we will demonstrate that sustainable energy provides a sound business strategy. Increasingly, organisations of all sizes and sectors are investing in sustainable energy because it offers both a strong return-on-investment and a long-term solution to climate change.
About the Econcern Sustainable Energy Event
From 1-12 December 2008 the Econcern Sustainable Energy Event will be alongside the Conference of the Parties in Poznan, Poland. Econcern provides an inspiring platform for governmental officials, observers, business people and press who are interested in finding practical solutions that will help achieve the ambitious climate change goals discussed at the Conference.
The Econcern Sustainable Energy Event is sponsored by: Philips, KPMG, ING, Teijin, HP, Econcern, Ecofys and OneCarbon. Contributors are: The Gold Standard, WWF, World Trade Centre Poznan, Polish Ministry of Environment, Danish Ministry of Environment and Energy, City of Poznan, RETD and many more. To find out more and for a full programme of events, please visit http://www.cop14poznan.com
About Econcern
Econcern the leading sustainable energy solutions provider is driving climate change solutions. Our mission is to ensure a sustainable energy supply for everyone. With over 1,200 employees in more than 20 countries, Econcern is home to the world's largest group of experts in sustainable energy and energy saving solutions. We have contributed to Nobel Prize winning scientific research. And with the company's profits rising by 96% to EUR86 million in 2007 Econcern clearly makes good business sense.
To find out more about Econcern, please visit http://www.econcern.com
About CNOOC
CNOOC is one of the largest state-owned oil giants in China as well as the largest offshore oil and gas producer. It is authorised to cooperate with foreign partners for oil and gas exploitation in China's offshore areas. Headquartered in Beijing and with total assets of RMB 309 billion, CNOOC ranks 406 in the FORTUNE TOP 500 list in 2008. CNOOC was rated A and A1 by Standard Poor's and Moody's respectively.
To find out more about CNOOC, please visit: http://www.cnooc.com.cn
About the SINOHYDRO Corporation
SINOHYDRO is a state-owned enterprise and the largest company in the water conservancy and hydropower construction industry in China. Its scope of business includes engineering, investment, construction and operations in business sectors like power generation, renewable energy, infrastructure and real estate. In 2007, SINOHYDRO's operating revenues and total assets exceeded RMB50 billion, ranking 51 in the Top 225 global EPC companies.
To find out more about SINOHYDRO, please visit: http://www.sinohydro.com
POZNAN, Poland, December 2 /PRNewswire/ --
For further information, please contact: Sylvia Hugenholtz, Phone: +48(0)5-13-81-97-27, Email: s.hugenholtz@econcern.com ; Renée Schnitzler, Phone: +31(0)30-66-23-943, Email: r.schnitzler@econcern.com .
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