China Guodian Corp said it is planning to invest Rmb20bn in building new energy facilities in Chongqing municipality over the next five years, reported People’s Daily.

The company will fund a variety of energy projects, including thermal power stations, wind power stations, natural gas stations and biomass stations in Chongqing and its surrounding regions.

Mr Zhu Yongpeng, general manager of China Guodian, predicted that Chongqing’s power consumption will grow at an annual average rate of 12.1 per cent over the next five years.