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BP announces new investments in China

BEIJING, Jan. 18 (UPI) -- BP announced it signed clean-energy agreements with China.

Among the multiple agreements signed Friday are some in wind power generation. The agreements were signed during British Prime Minister Gordon Brown's visit to China, Xinhua reported.

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Under the agreement, BP and the Chinese Academy of Sciences will study the feasibility of setting up a joint Clean Energy Commercialization Center later this year.

The CECC will aim at commercializing clean energy technologies, including coal gasification, coal to liquids, coal to chemicals and carbon capture and storage.

In one framework agreement with Beijing's Tianrun New Energy Investment Co., the two agreed to jointly invest in three 49.5-megawatt wind power plants in the northern Inner Mongolia Autonomous Region.

According to a memorandum of understanding, BP and China Petrochemical Corp. agreed to add a new 650,000 tons capacity acetic acid plant at their joint venture in the southwestern municipality Chongqing.

London-based BP has invested more than $4.3 billion in China commercial energy projects.

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