Negotiations Begun for China Biomass Contract

[] Green Energy Resources of New York has met with Chinese government ministers to discuss a renewable energy deal. Negotiations were led by Mr. Andrew Tong of Green Energy Resources China office, and were started in response to China’s renewable energy law and the enactment of the international Kyoto Treaty. The company is negotiating for a 10 year contract to supply 250 million tons of wood biomass for Co-firing power generators in China. Green Energy Resources would buy 10 woodchip ships built and manufactured in China valued around $350 million dollars, and provide shipping lease back options to the Chinese government in the future. China recently announced its plans to expand coal production over 1 billion tons, and is exploring large scale co-firing. The major trade obstacle is the U.S. Government’s rejection of the Kyoto accord.
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