New York, NY, U.S.A. --- (METERING.COM) --- September 25, 2009 - Duke Energy and the ENN Group, one of China's largest privately held, diversified energy companies, have signed an agreement to cooperate on the development of smart grid and other low carbon and clean energy technologies.
In addition to the smart grid the agreement encompasses joint technology development in coal-based clean energy, biofuels, natural gas, energy efficiency and carbon capturing algae, and also includes the potential development of commercial solar projects.
“China is leading the world in investing in clean energy and we can make greater progress by joining forces and working together,” said Duke Energy CEO Jim Rogers. “Now more than ever, the world is looking to the U.S. and China to lead the response to climate change and the looming threat it poses to our planet. Cooperative agreements like this one will enable our two countries to quickly commercialize and drive down the cost of clean energy technologies to help avoid the worst effects of global warming.”
“ENN’s mission is to find ways to produce energy that pollutes less, conserves more and protects the environment, and we are looking forward to working together with Duke Energy to drive innovation,” said Wang Yusuo, chairman of ENN Group. “We are one of China’s largest suppliers of natural gas. We also have growing subsidiaries operating around the world working on an array of renewable energy technologies.”
Under the memorandum of understanding, Duke Energy and ENN are launching a series of meetings to share information, view technology demonstrations and develop “best practice” models. The companies are also evaluating a partnership to pursue the commercial development of “utility scale” solar photovoltaic projects in the U.S.
The announcement follows a similar MOU signed in August in Beijing between Duke Energy and China Huaneng Group, China's largest electric utility, encompassing high level discussions and information sharing on a number of renewable and clean energy fronts.