U.S. solar thermal firm in deal for China power project

U.S. solar thermal firm in deal for China power project

Reached a deal with a Chinese power equipment maker to build a 2,000 megawatt (MW) solar thermal power project in China over the next 10 years

HONG KONG, [WorldofSolarThermal.com]

U.S. solar thermal power company eSolar, whose investors include Google Inc (GOOG.O), said it has reached a deal with a Chinese power equipment maker to build a 2,000 megawatt (MW) solar thermal power project in China over the next 10 years.

The deal comes as the Chinese government aims to boost renewable energy generating capacity in the country, with plans to generate at least 10,000 MW of solar energy and 20,000 MW of wind power by 2020.

In a statement, eSolar said equipment maker China Shandong Penglai Electric Power Equipment Manufacturing Co was developing solar thermal plants using eSolar's technology.

It did not disclose financial details of the deal, but analysts said the 2,000 MW project was the largest of its kind in China and could easily be worth more than $5 billion.

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Source: Reuters