China Huaneng Group and Duke Energy from the United States have signed a memorandum of understanding on jointly developing renewable and clean energy technologies.

Under the MOU, CHG and Duke Energy will launch a series of meetings to exchange information and explore potential long-term cooperative initiatives. The parties hope to make use of the existing advanced and efficient energy technologies of both China and the U.S., including carbon capture and storage and gas generation, to reduce coal plant emissions and other green house gas emissions.

Huang Yongda, deputy general manager of CHG, said that CHG had been attaching great importance to emission reduction and clean energy development, and had made great achievements on that. Huang stated that CHG's electric power structure and development strategy are similar to those of Duke Energy and the two companies' technology are complementary to each other, so CHG look forward to a mutual sharing of information and technology between the two companies and to jointly promoting the development of clean energy technology.

Jim Rogers, the CEO of Duke Energy, said "we find ourselves at a pivotal point in world history. To deal with global warming requires rapid action from all of us, and clearly CHG and Duke Energy are playing a leadership role on this issue." "China has committed to rapidly developing clean-energy technologies. By working together, the U.S. and China can commercialize and drive down the cost of these technologies for the benefit of the entire world." He added.

Duke Energy is the third largest electric power holding company in the United States (based on kilowatt-hour sales). The company has up to four million clients and a diversified range of electricity asset, including a growing portfolio of renewable energy assets.

CHG is one of the largest electric power groups in China. As one of the World 500 Fortune companies, CHG's total asset has exceeded CNY500 billion. Currently, the company is constructing or running a number of green programs in China such as the 100,000-ton/year carbon dioxide capture program in Shanghai and the 250 megawatt environmentally-friendly coal power plant in Tianjin.