The two businesses will construct “an offshore comprehensive smart energy island pilot project” offshore Dongtai city in the northern Jiangsu.
In order to advance its low-carbon energy initiatives in China, the French utility EdF has decided to expand its partnership with Chinese partner China Energy Investment (CEI) to include a pilot project for the offshore wind, solar power, hydrogen, and energy storage in Jiangsu province, eastern China.
Witnessed by visiting the French President Emmanuel Macron and his Chinese counterpart Xi Jinping, the two companies late last week signed an agreement to expand their cooperation.
According to the agreement, the two businesses will construct “an offshore comprehensive smart energy island pilot project” offshore Dongtai city in the northern Jiangsu. This project will integrate wind, solar, hydrogen, and energy storage facilities.
The project entails the construction of 15 gigawatts worth of offshore wind and solar facilities. The two businesses will look for the additional chances to invest in renewable energy projects in unrelated markets in the interim. A previous portfolio of green power projects the two companies completed in Dongtai served as the foundation for the new initiative.
In Donghai, the two businesses are currently running a 500 megawatt offshore wind farm. Up until the end of March, the $1.14 billion project had produced 3.5 billion kilowatt hours of electricity. 125 wind turbines are part of the project, which is 40 kilometres from land in the East China Sea and in which the CEI and EDF each own a 37.5% stake.
The chairman of CEI, Liu Guoyue, urged its French partner to support projects so that people in China, France, and other countries where the projects are located will benefit more.
China Guodian Corporation and Shenhua Group merged in 2017, resulting in the establishment of CEI, a state-owned energy company. It also conducts business in more than ten other nations and regions, including the US and Canada, in addition to the China.