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Australian-Chinese A$6bn JV for renewable energy

Australia’s CBD Energy Ltd has set up a joint venture (JV) with two Chinese companies for the development of renewable energy.

By Renewable Energy Focus staff

JV AusChina Energy Development Ltd will be owned by CBD (23.75%), China Datang Renewable Power Co Ltd (63.75%) and Tianwei Baobian Electric Co Ltd (12.50%).

The JV will develop A$6 billion worth of renewable energy projects over 8 years, with an estimated 33% renewable energy market share in Australia at the end of the period.

Initially the JV will focus on wind developments, but may also look at solar thermal and energy storage in the future.

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Policy, investment and markets  •  Wind power