It is reported that PetroChina signed an agreement with Huaneng Power International to set up a Shandong based joint venture which will generate power from gas turbines.

The move is aimed at improving the structure of gas fired power generation in the region, and to increase the proportion of power generated by clean energy sources.

Huaneng Group a major state owned power generation group, currently has installed capacity of 120 million kilowatts in 30 provinces, cities and overseas markets.

(Sourced from Shanghai Securities News)