Chinese energy company to invest 130 mln euros in Estonia13.09.2012, 13:43
Jilin New Energy Investment Co. Ltd. plans to invest 130 million euros in renewable energy projects in Estonia, the biggest Chinese investment in Estonia, reported Enterprise Estonia today.
Investments will be made mainly in the production of wooden pellets and wind energy equipment, Enterprise Estonia said, citing an agreement signed between the parties on Sept. 7.
Financing for the projects will come from China Development Bank, it added.
Jilin New Energy will also set up its European headquarters in Estonia, citing its favorable geographic location, strong renewable energy industry and political stability, Enterprise Estonia said.