Subsidiary of Chinese CNNC to push geothermal development in Tibet
China Nuclear Power Company, CNNC (Tibet) Industrial Development Co., Ltd. through a local subsidiary is to accelerate development of geothermal and other clean energy projects, as well as act as a specialised investment platform to accelerate investment into geothermal projects.
In news coverage from China, it is reported that China Nuclear Power Company, CNNC (Tibet) Industrial Development Co., Ltd. signed an agreement with CNNC KunHua Energy Development Co., Ltd. on the development and operation of the clean energy projects in Tibet.
According to Chen Hua, Chairman of the Board of China Nuclear Power Company, this is to successfully integrate CNNC’s resources in geothermal development, and lay a solid foundation for CNNC Group’s expansion of Tibetan geothermal industry projects.
The Tibetan company was commissioned by CNNC KunHua to carry out the development of geothermal and other clean energy projects in Tibet. The Tibetan company will use its geographical advantages, actively coordinate the relevant local government departments responsible for the daily procedures required for the operation, project development and construction.
CNNC KunHua Energy will be able to act as the geothermal specialized investment platforms to accelerate investment in geothermal projects in Tibet.