France’s EDF enters into JV with China Energy Investment Corporation for the development of offshore winds farms

In a statement on Tuesday, France’s state-controlled power group EDF said, it has entered into a joint venture partnership with China Energy Investment Corporation (CEI) to develop offshore wind farms in China.

EDF will take a 37.5% stake in the project company through its subsidiaries EDF Renewables and EDF China with CEI Group holding the balance stake through its Shenhua Renewable and Shenhua Clean Energy Holdings units.

The offshore wind market in China is booming, said EDF. It expects an installed capacity of over 40 GW by 2030 against its current 6 GW capacity.

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