CNPC,China Guodian Corporation Ink Cooperation Deal

CNPC and China Guodian Corporation signed last week a strategic cooperation agreement in Beijing.

Under the agreement, the two sides will jointly promote the development of natural gas power generation by leveraging CNPC’s strengths in natural gas resources and Guodian’s dominant position in power industry.

CNPC Chairman Jiang Jiemin, and Guodian President Zhu Yongpeng had a profound discussion on further deepening cooperation and attended the signing ceremony. CNPC Vice President Li Xinhua and Guodian Vice President Mi Shuhua signed the agreement on behalf of the two sides respectively. CNPC Vice President Yu Baocai presided over the signing ceremony.

China Guodian Corporation is mainly engaged in the development, investment, construction, operation and management of power plants and power generation for electricity (and heat) supply generation. As at the end of 2011, it has total assets of RMB 645.96 billion and total controllable installed capacity reached 106,720 MW, with businesses covering 31 provinces (autonomous regions and municipalities). It’s wind power installed capacity ranks the 2rd in the world and the top in Asia.