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Jiangsu Sunpower Technology Co Ltd and the Yangkou Port Economic Development Zone sign a landmark agreement for the group to build a major manufacturing complex there. [Photo/WeChat account: rudongfb]

Jiangsu Sunpower Technology Co Ltd and the Yangkou Port Economic Development Zone – located in Rudong county, administered by Nantong city in East China's Jiangsu province – signed a landmark 11.1 billion-yuan ($1.64 billion) contract on Aug 4.

Under the agreement, the company will build an extensive clean energy equipment manufacturing complex in the zone, with the construction divided into three phases.

In the first phase, a large-scale pipeline plant and a plant for polyurethane insulation boxes dedicated for LNG tanks will be built. The second phase includes an LNG utilization and waste disposal facility. In the third phase, a comprehensive clean energy equipment plant will be built.

Backed by its proprietary technologies in high-efficiency heat transfers, energy savings and ultra-low emissions, Sunpower has been expanding into the green investments segment as an investor and operator. It has undertaken research into major equipment localization required by Sinopec, PetroChina, CNOOC and other large State-owned enterprises.

Focusing on building itself as a national green energy demonstration city, Rudong has now formed a new energy industry development pattern centering on wind power, solar power and LNG.

The latest agreement will create new impetus for the advanced development of Rudong, said Chen Huiyu, Party secretary of the county at the signing ceremony.