Peterborough to sign energy deal with Chinese firm
0Peterborough City Council is set to approve a partnership with a Chinese firm to bring investment in renewable energy to the city.
The council will decide on Monday whether to sign a memorandum of understanding which would pave the way for AVIC – a subsidiary of a Chinese state-owned renewable energy and development firm – to supply products and expertise to the council.
John Harrison, executive director of resources at the council, told Room151 that the council is already examining a business case for two schemes which would install solar panels on car park canopies and LED streetlights in the city.
Harrison said: “We would borrow PWLB money on these projects and use the AVIC technology and expertise to deliver the projects. We are hopeful we could tie these deals up by March.”
He would not reveal details of how any profits from selling electricity back to the grid would be shared.
However, he said that some future projects could involve direct investment from the Chinese firm, with them taking a share of the risk.
The council says that the partnership could also deliver an AVIC manufacturing plant in the city for smart meters, solar panels and street lighting, once the firm has an established UK market.
Harrison said: “Once we are up and running, this is a concept that we could take and sell to other authorities in order to produce income for ourselves.”
Other projects which the partnership might work on include wireless broadband installation, an integrated transport platform as well as an infrastructure platform to enable future regeneration.
AVIC also represents the interests of Chinese firms including Shanghai Electric, Huawei, China Telecom and the Bank of China.
The council said the partners could assist in developing higher education opportunities in the city.
