JIC Invests in Three Renewable Energy Projects

J.I.C. Technology Company Ltd (JIC) has committed to invest in three renewable energy projects at the Lunaobao Wind Farm in Hebei, the Siziwang Qi Wind Farm in Inner Mongolia and a pilot cellulosic ethanol project.

The framework agreement to invest and develop a 100-megawatt (MW) wind power project at the Lunaobao in Zhangbei County, Hebei Province was signed between JIC and China Energy Conservation Investment Corporation.

In addition, JIC has applied to the Siziwang Qi DRC for the rights to build and operate a 50-MW wind power project in the region. It intends to build 33 1,500-kilowatt wind turbines. JIC targets to begin construction in the second half of 2008 and achieve full operation of the wind farm by the end of 2009.

The company also signed a technology transfer and co-operation agreement in respect to investment in a pilot cellulosic ethanol project using the Cellulosic Ethanol Technology developed by GeneHarbor Technologies Limited. The company will first acquire from GeneHarbor a 55% interest in the technology. A new joint venture between the JIC and GeneHarbor will be established and a pilot cellulosic ethanol plant will be built to demonstrate the feasibility of the technology and of the production process. If successful, JIC will seek to commercialize the Technology throughout Asia.

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