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France's EDF forms joint venture to develop wind farms in China

Published 06/02/2020, 02:59 AM
Updated 06/02/2020, 03:00 AM
© Reuters. FILE PHOTO: A logo of French electric company EDF is seen at an office building in La Defense business district in Courbevoie near Paris

PARIS (Reuters) - French state-controlled power group EDF (PA:EDF) said on Tuesday it had agreed 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. CEI Group will hold the remaining stakes through its Shenhua Renewable and Shenhua Clean Energy Holdings units.

EDF said the offshore wind market in China was booming, with an expected installed capacity of over 40 GW by 2030 versus 6 GW of installed capacity at present.

 

Latest comments

They have to form a joint venture, because that is the way the China Comunist Party does business. But this is not the way the world does business. The ultimate goal is for China to learn from the French. Then they will start a China company to drive them out of business.
I meant to say frawgs - but this super enlightened website blocked it..
Leave it to the French..
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