The company has signed an agreement with the Chongqing municipal government for construction of various energy projects in Chongqing and its surrounding regions.

Under the terms of the agreement, the company will construct thermal power stations, wind power stations, natural gas power stations and biomass power stations, reports Xinhua.

China Guodian general manager Zhu Yongpeng said Chongqing’s fast economic growth has brought many opportunities for the development of energy.

He estimates that the region’s power consumption will increase at an annual average rate of 12.1% over the next five years.

Chongqing vice mayor Tong Xiaoping said the total installed capacity of Chongqing’s power stations will double to 22 million kwh by the end of 2015 to meet the increasing demand.