Renewable Energy agreement

Published on September 10th, 2013 | by Anneli Hidalgo

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GreenStream signs agreement in China

Finnish GreenStream has signed an Investment Agreement in China with Zhuhai S.E.Z Hongta Renheng Paper Co. Ltd., a subsidiary of the Chinese state-owned paper giant CCT.

The signing ceremony in Beijing was attended by Finland’s Prime Minister Mr. Jyrki Katainen and Minister of the Environment, Mr. Ville Niinistö. The Energy Management Contracting (EMC) Investment Agreement, under which Runtech Systems Ltd will be the technology provider,  is the second of its kind for GreenStream in China in 2013. According to GreenStream, the EMC model will enable Zhuhai Hongta to implement an energy efficiency project without own initial investment. The value of the energy savings created by the project are shared between GreenStream and Zhuhai Hongta for a defined period.

“Our EMC business is growing rapidly. This proves that our business model works and is in demand in China. There is a clear need for robust world-class technology solutions combined with financing. Our project pipeline has grown fast during the summer and since our deal flow is strong at the moment, we believe that we will be closing more transactions before the end of this year”, says Aleksi Lumijärvi, the Executive Vice president of GreenStream in a press release.

According to the Investment Agreement signed with Zhuhai Hongta, GreenStream will deliver up to four turbo blowers to their paper mills, in which each pump will reduce approximately 50% electricity and 100% water consumption compared to the traditional water-ring pumps in paper machine’s vacuum system.

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