IFC, China's Chint to back green power in emerging markets

(SeeNews) - Dec 12, 2013 - The International Finance Corp (IFC) and Chinese power solutions provider the Chint Group have inked a memorandum of understanding (MOU) to work to expand sustainable power supply in emerging markets.

Chint Group said on Wednesday that the it will partner with the World Banks’ investment unit to develop solar projects, acquire businesses offering complementary products and services and set up more production facilities in emerging markets. The firm noted that developing markets around the globe need universal access to sustainable energy supplies in order to support their economies and create more jobs.

"Due to the booming utilisation of solar power and strong development of energy infrastructure, we have seen great opportunities in emerging countries," said Chint Group’s chairman Nan Cunhui.

The IFC and Chint Group have already partnered on the development of solar projects in India.

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Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.

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