EDF: creates joint venture with CEI in China
(CercleFinance.com) - EDF and China Energy Investment Corporation (CEI) have reached a new stage in their industrial partnership with the creation of a joint venture for the Dongtai IV and V projects.
The new joint venture is now building and operating offshore wind projects that have a total capacity of 502 MW, located off the coast of Jiangsu Province north of Shanghai, China.
The EDF Group is taking a 37.5% stake in the joint venture through its subsidiaries EDF Renouvelables and EDF. The CEI Group retains the remaining capital through its subsidiaries Shenhua Renewable and Shenhua Clean Energy Holdings.
The agreement covers Dongtai IV, a 302 MW offshore wind farm, commissioned in December 2019, and Dongtai V, a 200 MW project that is being built and scheduled to come on stream in 2021.
Both partners are continuing the construction of the Dongtai V offshore wind project and will carry out the operation and maintenance activities for both farms.
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