Shandong encourages companies to restructure and expand new energy industry

According to the director of the Bureau of Coal Industry of Shandong Province, Qiao Naijun, this year, Shandong will encourage chemical, power, and metallurgical companies to participate in mergers and acquisitions of coal companies by way of participation in shares and shares, further support the development of new energy industries, and strive to cultivate a group of highly competitive New energy project.

On April 29, Shandong Energy Group signed a strategic cooperation agreement with the four major state-owned commercial banks, including industry, agriculture, and China Construction. According to the agreement, the four major banks will provide Shandong Energy Group with a total of RMB 220 billion in credit lines and financial services in the coming period to support the development of the new energy industry.

“We will base coal on a moderately diversified basis and actively enter new energy fields such as wind power, nuclear power, solar energy and biomass energy on the basis of the development of coal, electricity, oil, and gas industries.” Chairman of Shandong Energy Group Co., Ltd. General Manager Bu Changsen said.

Tan Chengyi, director of the Shandong Provincial State-owned Assets Supervision and Administration Commission, stated that during the “Twelfth Five-Year Plan” period, state-owned enterprises in Shandong Province will vigorously implement the transformation and upgrading strategy and actively cultivate and develop new industries.