Norwegian energy company Equinor and China Power International Holding (CPIH) have joined forces to co-operate on offshore wind in Europe and the East Asian country.
They signed a memorandum of understanding (MoU) in Beijing today. expanding collaboration on renewable energy between the two companies.
Equinor said China is rapidly increasing its use of renewables and natural gas. with the country set to become the world’s biggest offshore wind market by 2030.
The Norwegian firm has been in China since 1982. with an established crude trading business in the country and is engaged in international upstream partnerships with a number of Chinese companies.
CPIH President Jun Tian added: “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.
By the end of 2017. CPIH had a total installed capacity of 35.17GW. out of which 44.87% was renewables.