Norwegian energy major Equinor has entered into a memorandum of understanding with China Power International Holding (CPIH) to collaborate on offshore wind development in China and Europe.
“China is rapidly increasing its use of renewables and natural gas. The country is set to become the world’s biggest offshore wind market by 2030. As an offshore wind major, Equinor is excited to collaborate with CPIH to develop offshore wind,” said Pål Eitrheim, Equinor’s executive vice president of new energy solutions.
Jun Tian, president of CPIH, believes the signing of the MoU between CPIH and Equinor is a big step forward for both companies to move into new markets in renewables and develop a long-term strategic partnership.
“We strongly believe the collaboration between CPIH and Equinor in China and Europe will bring vast experience, knowledge and expertise to the industry. We look forward to deepen this partnership and develop a sustainable energy business together with our partner in both domestic and overseas markets,” said Jun Tian.
China is pushing forward with its plans for promoting offshore wind power, with a target of wind power accounting for about 6% of the total generating capacity in the country by 2020.