Economy

China, Russia sign power generation deal

(Xinhua)
Updated: 2011-06-17 22:14

ST PETERSBURG - China and Russia signed a power generation deal on the sidelines of the ongoing St Petersburg International Economic Forum on Friday.

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The deal was signed between China Yangtze Power and Russia's EuroSibEnergo company. On Thursday, China Eximbank and Russia's En+ Group inked an investment cooperation deal, to which EuroSibEnergo is also a party.

China Yangtze Power and EuroSibEnergo have agreed to construct three power generation facilities in eastern Siberia with a total capacity of 3 gigawatts. Two of the facilities will be hydroelectric while a third will be a natural gas-fired plant.

The power generation deal were signed by Zhang Cheng, president of China Yangtze Power and vice president of China's Three Gorges Corporation, and Artem Volynets, director general of the En+ Group.