China Recycling Energy, an industrial waste-to-energy solution provider in China, has formed partnership with China Guangdong Nuclear (CGN) Energy Service to develop recycling energy projects.
Both companies plan to invest in selected constructing projects and are willing to jointly develop more recycling energy projects.
Both parties will have regular communication, share projects, and work on equity cooperation plans.
“We are happy to build up such a strategic partnership with CGN Energy Service Co., Ltd. We believe that such communication and cooperation will benefit us with more forward-looking vision and being more competitive in recycling energy markets,” said Guohua Ku, chairman and CEO of CREG.
China Recycling Energy provides environmentally friendly waste-to-energy technologies to recycle industrial by-products for steel mills, cement factories and coke plants in China. Byproducts include heat, steam, pressure, and exhaust to generate large amounts of lower-cost electricity and reduce the need for outside electrical sources.
The Chinese government has adopted policies to encourage the use of recycling technologies to optimize resource allocation and reduce pollution.
Recycled energy market represents only 1 percent of total energy consumption and this renewable energy resource is viewed as a growth market due to intensified environmental concerns and rising energy costs as the Chinese economy continues to expand.