The State Grid of China signed a contract with “Eastern Energy Company“, which is part of the “Inter RAO“, to purchase electricity for 25 years. As stated in the official press release by Eastern Energy Company, the deliveries under the contract will begin on March 1, 2012. The amount of the transaction was not disclosed.
China had previously purchased electricity in Russia, but in 2012 the volume of imports will increase substantially. This was made possible by the construction of transmission lines Amur-Heihe. According to Eastern Energy Company in 2012, exports to China will grow by 50% and reached 2.6 billion kilowatt-hours. A total of 25 years, the export is planned to put about 100 billion kilowatt-hours. Thus, in the near future, the volume of annual exports will increase.
Eastern Energy Company has been specially designed to supply electricity to China.
It should be noted that according to the CIA Factbook, China is not only an importer but also an exporter of electricity. In 2010 China sold 19 billion kilowatt-hours of electricity abroad, and purchased 55 billion kilowatt-hours from abroad.