China Co. to invest billions in RE projects
According to this Reuters report, China Energy Conservation Investment Corp. plans to spend $2.5 billion (U.S.) over the next five years on biomass, energy-from-waste and other renewable energy ventures. The company, which is state owned, said it plans to take advantage of a new law that rewards those who move toward renewable energy and away from fossil fuels.
This could benefit Canadian and U.S. cleantech companies looking to export technology and expertise to China, but it’s unclear whether China Energy will be open to outsiders. As a state-owned investor, it may favour local companies as a way to boost its own cleantech economy.
Hmmm, a tax policy that rewards renewable energy investments and punishes investments in older carbon-based systems and technologies. What a novel idea… eh, Canada?
Tyler Hamilton is associate publisher and editor-in-chief of Corporate Knights magazine and former business columnist for the Toronto Star. This blog is a personal project started in April 2005.
