China and France to work together on offshore wind farm
The China Energy Investment Corporation (CHN Energy) and France’s EDF Group have signed an agreement to build an offshore wind power project off the eastern coast of China.
The wind farm will have a capacity of 500,000 kilowatts and be situated in the city of Dongtai, according to sources from Guohua Energy Investment Jiangsu company, a subsidiary of CHN Energy.
The agreement, signed in Paris last month, is the first of its kind with both domestic and foreign investment in China. A total of around $1.18 billion will be invested, with EDF holding a 35-percent stake in the two-phase project.
The first phase, with a capacity of 300,000 kilowatts, has started construction and will be connected to the grid by the end of this year. The second, with a capacity of 200,000 kilowatts, will start construction this year and be put into operation by 2020.