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Framework Cooperation Agreement for Renewable Energy with China Datang Corporation

published: 2010-08-27 16:40

Sumitomo Corporation and Sumitomo Corporation(China)Holding Ltd.  sighed the 'Framework Cooperation Agreement for Renewable Energy'with  China Datang Corporation Renewable Power Co.,Ltd.(Chairman: Jinhang Chen; Head Office: Beijing; hereafter "Datang".

Following with the conclusion of this agreement, Sumitomo Corporation, Sumitomo China and Datang will reinforce efforts to develop cooperative projects in China and other countries in renewable energy fields including wind, solar, biomass, and CDM by using each companies' strength.

Sumitomo Corporation developed its first joint wind power generation project by Japan and China with Datang and Kyushu Electric, which commenced commercial operation last September.

Sumitomo Corporation Group has focused on renewable energy business as one of its core business, and has a good track record of a photovoltaic power plant project in Spain, wind power generation projects in US and China, in addition to biomass power generation project and wind power generation projects in Japan.

Sumitomo Corporation Group intends to devote even greater efforts into expanding our business of renewable energy in China, where became the largest market in the world last year in terms of newly installed capacity of wind turbine and also plan to invest about 5 trillion RMB from 2011 to 2020 in the area of renewable energy.

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