POWERCHINA yields fruitful results at China-Russia Energy Business Forum

Li Yanming, deputy general manager of POWERCHINA, attended the 2nd China-Russia Energy Business Forum, which was held in St. Petersburg, Russia from June 6 to 7.

The 2nd China-Russia Energy Business Forum is held in St. Petersburg, Russia from June 6 to 7. [Photo/POWERCHINA]

In his speech, Li gave an overview of POWERCHINA's overall status and of its operations in Russia. He proposed that China and Russia should work together to promote the development of an energy consumption structure geared toward low carbonization and high efficiency.

He also recommended that the two countries strengthen exchanges and cooperation, as well as increase financial innovation and support for the energy and power industry to provide practical financing solutions for projects.

Sinohydro Group Co and RusHydro sign a cooperation agreement. [Photo/POWERCHINA]

During the forum, Sinohydro Group Co, a subsidiary of POWERCHINA, and RusHydro, a Russian hydroelectricity company, signed a cooperation agreement in the construction of pumped storage power stations.

POWERCHINA International Group and Sberbank of Russia also signed a strategic cooperation agreement, which will not only expand the investment and financing channels of Sberbank of Russia, but also provide more financial support for the development of POWERCHINA's international projects.

POWERCHINA International Group and Sberbank of Russia sign a strategic cooperation agreement. [Photo/POWERCHINA]