Friday, September 14, 2012

Jilin New Energy of China to Invest 130 million EUR in Estonia

Jilin New Energy Investment Co. Ltd. plans to invest 130 million euros ($168 million USD) in renewable energy projects in Estonia, the biggest Chinese investment in the Baltic country to date.

Investments will be made mainly in the production of wooden pellets and wind energy equipment, Tallinn-based EAS said in an e-mailed statement today, citing an agreement signed between the parties on September 7, 2012. Financing for the projects will come from China Development Bank, it added.

Jilin New Energy will also set up its European headquarters in Estonia, citing its favorable geographic location, strong renewable energy industry and political stability, EAS said.

Source: Bloomberg

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