ENN partners with Duke Energy to expand to North America

Oct. 26, 2009 (China Knowledge) - ENN Group, a Chinese private energy firm, yesterday signed an agreement with U.S.-based Duke Energy Corp to set up a 50:50 joint venture in the U.S. to jointly explore the North American solar energy market, sources reported. 

The JV, to be set up in 2010, will be focusing on the large utility-scale solar farms and commercial distributed generation solar projects. However, the exact amount of investment has not been decided yet, said Keith Trent, a chairman and an executive director of Duke Energy.

Duke Energy Generation Services, the commercial business unit of Duke Energy, currently has wind power projects exceeding 630 megawatts in the U.S. and plans to add another 350 MW by the end of next year.

ENN Group, which is engaged in the development of PV products, chemical products and natural gas distribution, had total assets of RMB 20 billion as of the end of last year.