Blue Sphere and Beijing Clinci Form Partnership
Both the companies are planning to open a new joint venture firm and are finalizing plans for project implementation at the first 14 sites.
These 14 projects have the potential to support over 70Mw capacity of power generation, produce organic compost and reduce emissions of greenhouse gases, which, in turn, will make the projects eligible for carbon credits either under the Kyoto Protocol or the nascent, domestic Chinese regime.
The terms of the agreement provide that Blue Sphere is in charge of investment feasibility evaluation and project investment. Clinci is in charge of project data collection, project early stage development, technique solutions and equipment, procurement and construction.
Shlomi Palas, CEO of Blue Sphere, said: â€œThis agreement opens up for us China in a way that until now was not able to be contemplated. Clinci is one of the biggest names in renewable energy technology in China and teaming up with them makes us a go-to company for renewable energy projects. Aside from the 14 projects in our pipeline, together we have many other opportunities to develop projects in China.â€
Shlomi Palas, CEO of Blue Sphere, said: â€œThere is currently a tremendous demand in China for effective and proven technologies to convert waste and biomass to energy. We aim to capitalize on this.â€
Will the partnership commercially benefit the firm?
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