Duke Energy, an American public utility company, and China Huaneng Group have negotiations underway to put together a deal in wind power generation.
The Chinese company intends to implement wind power projects in US, said David Mohler, Chief Technology Officer of Duke Energy on Tuesday.
Mohler and Duke Energy's electric grid group executive Jim Turner note that China Huaneng Group's experience in the wind power industry and Duke's familiarity with the American electric power market and power grid layout make a good match.
This cooperation will attract strategic partners and substantial investment funds to Duke and help Duke invest in more projects, which would not likely be realized without China Huaneng's participation, Turner told Dow Jones Newswires.
Two deals have already made for solar power and carbon capture and sequestration technology for coal-fired power plants since Aug. 2009 , between Duke and two Chinese companies.
Jim Rogers, Duke's CEO, said these deals are just the beginning. In the next five years, Duke aims to attract investment worth $25 billion to put into China for new plants and new equipments.
China Huaneng Group is the biggest power generation enterprise in China, in terms of installed capacity.
The Duke executives indicated that Duke is currently negotiating with China State Grid to establish a joint venture and set up power transmission lines in US, which are yet to be put into practice.
In addition, Duke is discussing with China Huaneng and ENN Group, an energy and solar power bank manufacturer in China, about investments in third-party nation projects.
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