CBD Energy Limited (ASX:CBD) is pleased to announce that it has signed a Binding Heads of Agreement with Baoding Tianwei Group Co. Ltd consisting of:

- Tianwei will utilise CBD's energy storage technology in a 100MW solar thermal plant to be constructed by Tianwei at Liang Shan, China. This project will be fully funded by Tianwei and is expected to cost approximately US$500,000,000. The project, covering an area of over 4 square kilometres will be one of the largest solar thermal projects under construction in the world. Construction is scheduled to commence early in the New Year. Over the next two weeks, CBD and Tianwei technical staff will be working together to specify the amount of storage required for this project.

- Upon the successful completion of this first project, Tianwei and CBD will work together on other like projects in the PRC (Peoples Republic of China).

- CBD will subcontract to Tianwei the construction of its storage technology. By utilizing Tianwei's expertise, construction capability and purchasing power, CBD believes it will more than halve CBD's current cost of production.

- Tianwei and CBD will work together on establishing a Centre of Excellence to make technical and construction improvements to CBD's patented storage technologies.

The CBD technology was chosen for its innovation, simplicity and cost effectiveness. Further details of the revenue impact of this project on CBD will be released once sizing of the storage component has been completed by Tianwei and CBD.

About Tianwei:

Baoding Tianwei Group Co., Ltd., originally Baoding Transformer works, was set up in 1958.

Tianwei Group has 12 wholly owned subsidiaries with total assets of approximately 6 billion Yuan (A$950 million), a manufacturing area of 1,200,000 square metres and approximately 8000 employees.

Tianwei Group lists among the 520 key contact-enterprises of China's National Economic and Commercial Committee. It has also been designated as the key-pillar enterprise by Hebei Province. In 2001, the company issued stock successfully on the Shanghai Stock Exchange Market.

Tianwei Group has been awarded one of 29 of the most important enterprises of the China Machinery Industry.

Tianwei Group possesses solid technology and internationally advanced equipment. It has established a state-level power transmission energy R&D centre and wafer project research centre. It produces power transformers with voltage output from 10kV to 1,000kV. At present, Tianwei products, technologies and performance products are sold internationally to the power transmission industry. In the Green Energy industry comprising wind and solar technologies, they are gaining international market share.

Tianwei products are sold domestically and also exported to more than 40 countries and regions such as United States, Japan, Canada, Pakistan and Sudan etc. In 2004, the Green Energy division of Tianwei Group obtained series international Certificates of UL, CE, IEC, TUV and ISO9001. Its Green Energy products are being sold internationally and have a reputation for quality and reliability.

In 2010 Tianwei Group will become the largest electronic group in China with turnover expected to reach 10 billion Yuan (A$1,600,000,000).

About CBD Energy Limited

 

Contact

Gerry McGowan
Managing Director
Ph: +61-419-717-717
CBD Energy Limited
Email: gerrymcgowan@cbdenergy.com.au

Media: Ian Westbrook
Ph: +61-2-9231-0922
Email: ian@westbrookfin.com.au



Link: CBD Energy Limited (ASX:CBD) Storage Technology Chosen For 100MW Solar Thermal Project In China



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