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Chinese delegation interested in investment to visit Estonia

Estonian news - etea April 5, 2013

Baltic News Service, 05.04.2013

A delegation of companies from the Jilin province of China is about to visit Estonia as a follow-up to an investment and cooperation agreement signed with the Enterprise Estonia foundation in September 2012 that sets out the wish of the Chinese side to invest 130 million euros in the renewable energy sector of Estonia.

The official delegation led by Jilin province’s Vice Governor Zhu Yanfeng and a business delegation accompanying it are scheduled to arrive here on Sunday at the invitation of Enterprise Estonia.

Meetings have been scheduled with Estonia’s Minister of Economy and Communications Juhan Parts and Minister of Environment Keit Pentus-Rosimannus, chair of the Riigikogu economic affairs committee Kaja Kallas and deputy secretary general of the Foreign Ministry Vaino Reinart, Enterprise Estonia said.

The official delegation will be in Estonia until April 9. The business delegation made up of entrepreneurs in the renewable energy sector and bankers will stay longer to look at the opportunities offered by the Estonian renewables sector.

In the first phase of the investment project the plan is to focus on biomass, that is, wood pellets and alternative fuels from biomass.

In phase two and phase three wind energy and peat extraction would be added.

The contract partner for Enterprise Estonia, Jilin Province New Energy Investment Co. Ltd., has chosen Estonia as the location of its headquarters for renewable energy projects in Europe. It is acting in conjunction with the provincial government and cooperation partners having long-term and extensive experience in renewable energy in China. The project is financed by the China Development Bank.

Materialization of the investments and its speed depend on the effectiveness of the work of the parties and possibilities of the Estonian renewable energy sector, Enterprise Estonia said.

 

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