French group EDF has sealed its commitment to the growing Chinese offshore wind energy market with an industrial partnership with China Energy Investment Corporation (CEI).
EDF has signed agreements taking a 37.5 per cent stake in the project company behind the Dongtai IV and V offshore wind farms in Jiangsu province. The projects are EDF’s first offshore wind farms in China, where offshore wind capacity is expected to grow from 6 GW to over 40 GW of installed capacity by 2030.
Dongtai IV is a 302 MW wind farm that started operating in late 2019, while the 200 MW Dongtai V project is currently under construction and is due to be commissioned in 2021.
EDF has invested in the projects through its subsidiaries EDF Renewables and EDF China, whereas CEI Group holds the remaining stakes through its subsidiaries Shenhua Renewable and Shenhua Clean Energy Holdings. This industrial partnership and the financial closing are a follow-up of the Cooperation Agreement signed on March 25th, 2019, between EDF and CEI, EDF said.
Bruno Bensasson, EDF Group Senior Executive Vice-President Renewable Energies and Chairman and Chief Executive Officer of EDF Renewables said: “EDF Group, which benefits from a recognized global expertise in offshore wind, is very pleased to support China, first country for renewable market growth, regarding its energy ambitions in reducing CO2 emissions.
“Thanks to this partnership, EDF which is already present in China through its other businesses: nuclear, solar, onshore wind and energy services, is strengthening its footprint in this strategic market.”