New $1.18 B offshore wind power project in China
China: China’s energy company has partnered with a leading French power company to jointly develop an offshore wind power project in Jiangsu province in East China.
China Energy Investment Corporation and EDF Group signed an agreement in Paris in March 2019 to build the 500 MW offshore wind power project in the city of Dongtai.
The project is the first of its kind with both domestic and foreign investment in China. A total of $1.18 B (7.94 B yuan) will be invested, with EDF holding a 35 % stake.
The project consists of two phases; the first one has already started with the construction work and will be connected to the grid by the end of this year. The second will start construction this year and be put into operation by 2020.
The cooperation will push forward wind power development in the eastern coastal areas of China and improve the energy structure of the province.