ENN Group to invest $8 billion in U.S. clean energy: report

SHANGHAI | Thu Sep 1, 2011 10:11pm EDT

SHANGHAI (Reuters) - ENN Group, parent of ENN Energy Holdings Limited, plans to invest a total of $8 billion in clean energy projects in the United States over the next 10 years, the China Securities Journal reported on Friday.

"Sino-U.S. cooperation in energy projects is gaining pace, and there will be more investment from Chinese companies in the United States if the United States is more open in its investment policy," group chairman of the board Wang Yusuo was quoted as saying at a U.S. energy forum.

A spokeswoman from ENN Energy declined to comment on the report, but said the Hong Kong-listed firm was always looking for opportunities to expand domestically and overseas, especially in the clean energy sector.

Leading independent clean energy firms are actively making inroads overseas while also looking to strengthen their presence domestically as China is eager to speed up development of clean energy and reduce its dependence on traditional fossil fuels, especially coal.

(Reporting by Ruby Lian; Additional reporting by Donny Kwok in Hong Kong; Editing by Jonathan Hopfner)

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Comments (1)
thelaowai wrote:
We could use a lot more of this kind of FDI in the US.

Sep 03, 2011 5:19pm EDT  --  Report as abuse
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