China’s power giant Longyuan to invest in wind farms in Serbia?

China’s Longyuan Power Group Corporation, Asia’s largest wind farms developer, is expanding further overseas with projects in Poland, Serbia, Kazakhstan, Canada and the United States.

The company, a unit of the world’s largest power producer China Energy Investment Corporation, is taking a cautious approach abroad, aware of the risks it will encounter, president Li Enyi told reporters on Tuesday.  

“Our new overseas projects are in early stages of development and are mostly in nations covered by China’s ‘Belt and Road Initiative’,” he said, referring to Beijing’s plan to link countries around the world in a trading network. 

“We are focused on countries that are geopolitically stable, have a sound legal environment and a well established market-based economy”, he added.

Li would not say how large the projects were or whether some of them would be completed this year or next, saying only that the company is taking a “stringent and detailed” approach to risk management.

Longyuan has just posted its business results for 2017 – it recorded 8.4% rise in net profit to 3.85 billion yuan (US$608 million).

(B92, 14.03.2018)


This post is also available in: Italiano

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