China Power International Holding (CPIH) and Norway’s Equinor have signed a Memorandum of Understanding (MoU) to cooperate on offshore wind in China and Europe.
The MoU also opens possibilities for potentially expanding the collaboration between the two companies.
“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 executive vice president New Energy Solutions, Pål Eitrheim.
The signing of the MoU took place in Beijing on 25 September with the President of CPIH, Tian Jun and Executive vice president from Equinor, Pål Eitrheim. Minister Counsellor & Deputy Head of Mission from the Norwegian Embassy, Mattis Raustøl attended also the ceremony.
“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,” said the president of CPIH, Jun Tian.
”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.”
As a core subsidiary of the state-owned enterprise State Power Investment Corporation (SPIC), CPIH develops and operate power projects within traditional and renewable energy. By the end of 2017, CPIH had a total installed capacity of 35.17GW in which 44.87% is from renewable energy.