Wednesday 13 July 2016

EDF enters Chinese wind energy market

EDF enters Chinese wind energy market

EDF has announced it has entered the growing renewables energy market in China.

The French utility has bought an 80% stake in UPC Asia Wind Management (AWM) which develops and builds wind projects in China.

US investment fund Global Environment Fund will retain a 20% share.

The new partnership is expected to add more than 1.3GW of wind power capacity to EDF’s portfolio.

Jean-Bernard Lévy, Chairman and CEO of EDF Group said: "In the framework of EDF's strategy CAP 2030, our goal is to accelerate our low carbon generation, with a diversified energy mix where nuclear and renewable energy balance each other. Our development in high potential markets, such as China, is a full part of this dynamic process.”

The Chinese Government has set a target to install 200GW of wind capacity by 2020.

Written by

Bruna Pinhoni

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