The International Finance Corp (IFC) has signed an agreement with the Peak Pacific Investment Corp to help fund the latter’s investments in combined heat and power (CHP) projects in China. The IFC support, worth $25 million, will assist Peak Pacific to build new plants and to rehabilitate old plants, improving efficiency and reliability.
The major stakeholder in Peak Pacific is Alliant Energy, a US based utility. The company currently owns five plants in China and is assessing additional acquisitions.
China is expected to experience high growth in the power generation sector over the next ten years according to the IFC, an arm of the World Bank. Peak Pacific’s projects are in towns and cities where both power and heat can be utilised effectively.