Biofuels, China, Cleantech venture capital, Coal, Geothermal

PetroChina to Invest $1.3 Billion in Clean Energy Projects

September 18, 2007 ( Up to 2020, PetroChina will spend 10 billion yuan developing new energy sources, the company’s vice president announced at an international forum.Hu Wenrui, vice president of PetroChina, said that the company will speed up the development of new energy sources, such as hydraulic liquid, oil-gas, coal-bed methane, ethanol fuels, biological diesel oil and geothermal resources.

Hu said that PetroChina has acquired development rights for 3 trillion cubic meters of coal-bed methane. An advanced coal-bed methane lab has been set up. The largest- coal-bed methane treatment plant in China is currently under construction. By 2008, China’s first coal-bed methane field is expected to begin operation.

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One thought on “PetroChina to Invest $1.3 Billion in Clean Energy Projects

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