26 Sep Equinor inks offshore wind farms MoU with Chinese power firm
Equinor has signed a memorandum of understanding (MoU) with China Power International Holding (CPIH) that will see the companies cooperate on the development of offshore wind farms in China and Europe.
The MoU will strengthen and expand Norway-based Equinor’s relationship with CPIH, a subsidiary of the state-owned Chinese enterprise State Power Investment Corporation (SPIC).
It was signed by CPIH president Jun Tian and Equinor New Energy Solutions executive vice-president Pål Eitrheim at an event in Beijing, China.
“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,” said Eitrheim. “As an offshore wind major, Equinor is excited to collaborate with CPIH to develop offshore wind.”
Since switching its focus from fossil fuels to renewable energy in 2017, Equinor has been evaluating offshore wind opportunities in several markets around the world, particularly in Asia.
In February, the company partnered with Korea National Oil Corporation (KNOC) in the exploration of opportunities for developing floating offshore wind sites in South Korea.