Beijing – The People’s Republic of China, August 24th, 2011 – Mercuria Energy Asia Investment PTE Ltd (Mercuria) and China Datang Corporation Renewable Power Co., Limited (Datang Renewable) announce that they formed a joint venture. The new company, registered in Beijing on July 27th, 2011, is called DTM (Beijing) Energy Technology Development Co., Ltd.
This Joint Venture will benefit from the resources of both Datang Renewable and Mercuria in terms of financial support, business knowledge and network building in order to further develop and exploit carbon asset management opportunities in China. Thanks to these combined resources and expertise, the new company will be equipped to reach the top position in the growing Chinese carbon market as well as explore international emissions market opportunities. In the meantime, both Parties will seek to develop their reach in overseas traditional energy and renewable energy markets.
China Datang Corporation Renewable Power Co.,Limited, a Hong Kong listed company (01798), is a subsidiary company of China Datang Corporation. It is devoted to developing, planning, investing, engineering, as well as managing new energy resources such as wind power. Their core business also includes the study, application and development of low carbon technologies. The company has become the leading renewable power company in China thanks its fast business development and scientific management in the recent years.
China Datang Corporation, one of the top five Utilities in China, is an extra-large scaled power generation enterprise group established on Dec. 29, 2002. It is a solely state-owned corporation directly managed by the CPC Central Committee and is the experimental state-authorized investment and state share-holding enterprise ratified by the State Council. The registered capital is 15.39 billion yuan.
Mercuria Energy Asia Investment PTE. Ltd is a subsidiary of Mercuria Energy Group. Mercuria is a privately-owned international group of companies active over a wide spectrum of global energy markets including crude oil and refined petroleum products, natural gas (including LNG), power, coal, biodiesel, vegetable oils and carbon emissions. It is one of the world’s five largest independent energy traders and has a longstanding sector expertise. Founded in 2004, Mercuria has in a relatively short period of time become a significant player in the global energy markets. It is committed to trading and operational excellence with an exceptional track record of risk management and financial soundness.
For more information, please visit:
China Datang Corporation: http://www.china-cdt.com/
China Datang Corporation Renewable Power Co., Ltd: http://www.dtxny.com.cn/
Mercuria Energy Group: https://www.mercuria.com
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