First Sino-foreign Offshore Wind Power Project Officially Launched

The Dongtai Offshore Wind Power Co., Ltd. under China Energy Investment Corporation recently signed a Joint Venture Contract and a Subscription Agreement with French energy giant EDF Group to jointly fund and build an offshore wind power project in Dongtai, eastern China’s Jiangsu Province. With an installed capacity of 502 megawatts, the project is China’s first offshore wind farm joint venture.

The entire project consists of Dongtai Phase IV project (302 MW), which was fully connected to the grid in December 2019, and Dongtai Phase V project (200 MW), which is currently under construction and scheduled to fully come into service in early 2021. China Energy will team up with EDF to build Dongtai Phase V project and manage the operation and maintenance of both projects. After fully put into operation, the Phase IV and Phase V projects are expected to together generate 1.39 billion kilowatt-hours each year to meet the annual electricity needs of nearly 2 million residents, equivalent to an annual saving of 441,900 tons of standard coal, 937,500 tons of carbon dioxide and 1,704 tons of sulfur dioxide.

On January 8, Guohua Investment, a subsidiary of China Energy, overcame the impact of the Spring Festival holiday and COVID-19 epidemic and accelerated its efforts to promote follow-up work. To avoid crowd gathering, the company communicated and coordinated with all shareholders to conduct negotiations through the internet and other information technologies. Its efforts finally facilitated the signing of the Joint Venture Contract, Subscription Agreement and Articles of Association by means of transmission and signature—a concrete outcome that helps to promote the resumption of work and production of China Energy as a centrally-administered state-owned enterprise.

Thus, the Framework Agreement on Cooperation in Dongtai Phase IV and Phase V Offshore Wind Power Projects signed between China Energy and EDF under the joint witness of the two heads of state has made substantial progress, marking a step forward in energy cooperation between China and France.