China Energy Investment Corp (CHN Energy) and its majority-owned unit China Longyuan Power Group (<a href="https://www.hkex.com.hk/Market-Data/Securities-Prices/Equities/Equities-Quote?sym=916&sc_lang=en" target="_blank">HKG:0916</a>) have agreed to set up a CNY-3-billion (USD 416m/EUR 383m) joint venture to build a new multi-gigawatt-scale "new energy" desert base in China that includes renewables and energy storage.