Duke Energy Corp. (DUK) and China Huaneng Group announced they will begin sharing information about their experiences with various forms of environmentally friendly electricity generation.
Duke Energy Corp. [[DUK]] entered into an informal partnership today with China’s largest electric utility to share information and developments regarding clean energy production, such as “clean coal” and wind power.
Executives from Duke Energy and China Huaneng Group signed a “memorandum of understanding” that means the two companies will discuss their trials and errors generating electricity from nontraditional, more environmentally friendly sources as well as initiatives both companies have to attempt to sequester carbon dioxide. Carbon dioxide is the main gas implicated in global warming and large byproduct of traditional electricity generation.
The agreement does not signal the start of a formal business relationship, but by opening dialogue between the two companies it would make future, jointly financed projects much easier.
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