U.S. Helps Build Network to Develop Clean Energy in China

Public Affairs Section
United States Embassy, Beijing
Tel: 8531-3000  Fax: 8531-4040
Chinese website: http://chinese.usembassy-china.org.cn
English website: http://beijing.usembassy-china.org.cn
October 21, 2009

U.S. Helps Build Network to Develop Clean Energy in China

Below please find a press release from the U.S. Agency for International Development that we are forwarding to you as a courtesy

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FOR IMMEDIATE RELEASE
October 21, 2009
Press inquiries: Hal Lipper, (66-8) 9204-8725
Email: hlipper@usaid.gov
http://www.usaid/gov/rdma/
http://usaid.eco-asia.org/index.php

U.S. Helps Build Network to Develop Clean Energy in China

BEIJING (Oct. 21) – Eleven projects from some of China’s top clean-energy businesses and entrepreneurs are being showcased today at the China Clean Energy Investor Forum in Beijing.  These projects have the potential of reducing carbon emissions by almost 5 million metric tons a year over the next five years, the equivalent of removing 950,000 cars from the roads during that same period of time.

The forum, attended by more than 200 clean energy experts, fund managers, businesses and investors, is expected to increase opportunities for innovative renewable energy and energy efficiency projects in China. 

The meeting is part of an increased presence in Asia by the Private Financing Advisory Network (PFAN), a public-private initiative whose goals are: 1) to increase access to financing for climate-friendly and technology-transfer projects in the renewable-energy and clean-energy sectors in developing countries and nations whose economies are in transition; 2) to get more renewable-energy and climate-friendly projects financed, thereby accelerating technology transfer under the United Nations Framework Convention on Climate Change.  PFAN is supported by the U.S. Government through the U.S. Agency for International Development (USAID), the U.S. Department of Energy, and other international donors.

All of the companies presenting at the forum received mentoring and one-on-one coaching from PFAN prior to formally making their investment pitch at the meeting.  The projects included solar power, small hydropower, bio-diesel and landfill gas initiatives.  Together, the projects have an investment value of $378 million.

“We are glad to be working with PFAN to build a network to bring deserving projects together with financing,” said Dr. J.P. Huang, Chairman of JPI Group, a PFAN resource partner in China. “These sorts of innovative partnerships can bring both economic and environmental benefits to the countries where they operate.”

PFAN, which was founded in 2006, began building networks in Asia early this year and has expanded rapidly since.  In addition to China, Clean Energy Investor Forums have been held in Indonesia, the Philippines, and Singapore.  Twenty-five clean-energy projects from Asian businesses and entrepreneurs have been showcased in 2009, which together have the potential of reducing greenhouse gas emissions by more than 8 million metric tons a year. 

“By bringing together clean-energy entrepreneurs and investors, the China Clean Energy Investor Forum is addressing the barriers that clean-energy businesses face in seeking financing,” said Orestes Anastasia, USAID’s Regional Environment Advisor. “These barriers make it difficult for investors to identify and screen viable clean-energy projects.”  USAID believes that by identifying and nurturing the best ideas, it can help make financing a reality for these vital projects.

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