China Technology Development Group Corporation, the BVI company based in China to provide renewable solar energy products and solutions, announced that it has entered into strategic cooperation agreement with Rus Energy Investment Group. The purpose of the agreement is to leverage mutual strengths to jointly develop the clean energy business in China and Russia.
Pursuant to the strategic cooperation agreement, CTDC and Rus Energy will cooperatively develop the Russian solar power station and other solar related businesses in Russia to provide environmental friendly and clean solar power. Both parties will also jointly work over supply of Russia’s natural gas to mainland China, Hong Kong and Taiwan. Another important cooperative arrangement will be setting up of the Sino-Russian clean energy assessment team to conduct substantive investigation necessary for the potential cooperation on clean energy projects. CTDC and Rus Energy will carry out feasibility studies for the reference to the board of directors of both companies.
Rus Energy is a HK-registered company engaged in the development, exploration and production of clean energy in Russia. In October 2009, company’s subsidiary Sino-Russian Energy Investment Co., Ltd announced the acquisition of 51% equity interests in Russian Suntar Natural Gas Company, as a result of which it has obtained exploration and production rights of 2 natural gas fields in Siberia with up to 60 billion cubic meters of reserved natural gas. Rus Energy is planning to invest over US$300 million into these properties. Rus Energy will become the first Sino-Russian joint venture in natural gas.