Three Gorges Corporation has successfully entered the world's largest offshore wind power market

Three Gorges Corporation has successfully entered the world's largest offshore wind power market

On December 16th, Mr. Lu Chun, Chairman of China Three Gorges Corporation (CTG), met with Mr. Greg Clark, Secretary of State for Business, Energy and Industrial Strategy of the UK, in Beijing.

Mr. Lu said that CTG has regarded UK as one of the key countries for overseas investment and attached great importance to investment opportunities in UK market, and is committed to promoting the development of UK’s renewable energy sector. In the future, CTG will actively participate in the investment and development of UK's offshore wind power and other renewable energies, draw from the experience of UK's electricity market reform and strengthen cooperation in renewable energy technology innovation.

Mr. Clark said that the British government regards CTG as a valuable investor and long-term strategic partner. He hopes that CTG can step up investment and development efforts of offshore wind power in the North Sea of the UK. He also hopes that both sides can expand cooperation in electricity marketization reform and strengthen cooperation in the development of technology in renewable energies and other fields.

As one of the most active renewable energy technology innovators in the world, and the second largest investor in renewable energies, the UK has been developing offshore wind power for nearly 20 years and currently holds the leading position worldwide with the largest offshore wind power installed capacity. In September 2017, China Three Gorges Corporation (CTG) and Energias de Portugal (EDP) signed an agreement to jointly develop the 1,120 MW offshore wind power project in Moray and won the bid in the second round of contract for differences (CFD) in the UK. At that point, China Three Gorges Corporation has successfully entered the world's largest offshore wind power market and became the first Chinese company to win a large-scale offshore wind power project in Europe that has feed-in tariff. It has also become the first Chinese enterprise to invest in a nearly 1 million KW-level offshore wind power project worldwide.