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France's EDF to buy into 500 MW of Chinese offshore wind

The Blyth offshore wind park. Source: EDF Energy (www.edfenergy.com).

March 26 (Renewables Now) - French utility EDF SA (EPA:EDF) has agreed to buy into a couple of Chinese offshore wind projects with a combined capacity of 500 MW, it was announced on Monday.

More specifically, EDF has sealed a deal with peer China Energy Investment Corporation (CEI) to acquire a stake in the Dongtai IV and V projects, located off the coast of Jiangsu Province, and jointly build and operate the two assets. This agreement marks the French group’s entry into the Chinese offshore wind market, it said in a statement, noting that the partnership with CEI is subject to the signing of the final contracts.

While Dongtain IV has already entered the construction phase, Dongtai V is expected to do so later this year. The two wind parks will be gradually commissioned by 2021.

EDF is presently operating or developing 5.3 GW of offshore wind capacity. It considers China to be a promising market, having 3.8 GW of installed offshore wind already.

Meanwhile, EDF has also entered into an agreement with Chinese power utility Huadia to operate a heating and air-conditioning network in the city of Wuhan. The pair will jointly examine the feasibility of using smart energy management tools to operate the network.

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Browse all articles from Ivan Shumkov

Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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