CBD Energy to form joint venture with two Chinese firms

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CBD Energy is on the verge of signing a contract finalising its joint venture with two of China’s biggest renewable energy companies, China Datang Renewable Power and Tianwei Baobian Electric. The agreement will see the creation of a new company, named AusChina Energy Development Limited, which will be joined to the AusChina Energy Development Trust.

AusChina Energy Development aims to establish itself as a leading name in the Australian energy market by developing AUS$6 billion (US$6.33 billion) of renewable energy projects over the next eight years. CBD will release more details about the joint venture after documents are completed and signed on April 18.

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