The EDF group is accelerating its development in renewable energies and announces its first wind power project in China. EDF Energies Nouvelles, its subsidiary dedicated to renewable energies, is acquiring a majority share in the company UPC Asia Wind Management (AWM), which develops and builds wind projects in China.
Following this acquisition of a stake, EDF Energies Nouvelles now holds 80% of the shares of the company UPC AWM based in Hong Kong. The partners UPC China, a historic local developer and the American investment fund Global Environment Fund (GEF) remain shareholders in the company for 20%.
This new partnership development is made possible thanks to the EDF Group's strong roots in China, where it has been present for more than 30 years through its activities in nuclear, thermal, hydraulic and energy services.
China has become the world's leading renewable energy market with strong growth expected in the years to come. The Chinese Government has the ambition to reach 200 gigawatts (GW) of installed wind capacity by 2020, an increase on average of 15 GW per year.
China is a priority country for the EDF Group, which is the first major European energy player to establish a foothold in the Chinese renewable energy market with significant ambitions.
The Group, which is increasing its wind power portfolio by more than 1.3 GW through this new partnership contract - in development, construction or operation in the country - is now at the head of more than 10 GW in operation in the world.
On this occasion, Jean-Bernard Lévy, Chairman and CEO of the EDF Group declared : “ As part of EDF's strategy, CAP 2030, our ambition is to accelerate our production of low-carbon electricity, thanks to a diversified energy mix where nuclear and renewable energies are complementary. Our development in markets with high potential such as China fits perfectly into this dynamic. This country, where we have been present for more than 30 years, offers the EDF Group significant growth prospects and we are delighted to strengthen our presence in renewable energies there.
About EDF Energies Nouvelles
EDF Energies Nouvelles is an international leader in renewable electricity with an installed capacity of more than 9 GW gross worldwide. Its development is mainly focused on wind power and photovoltaic solar power. Mainly present in Europe and North America, EDF EN continues its development by taking a position in new promising markets and in new countries such as South Africa, Brazil, Chile, China and India. The Company, which is strongly positioned in the offshore wind sector, is also present in other renewable energy sectors: marine energies, biogas and biomass as well as in distributed energies. EDF EN ensures the development and construction of renewable energy projects as well as their operation and maintenance, for its own account and on behalf of third parties. EDF Energies Nouvelles is the subsidiary of the EDF group dedicated to the development of renewable energies.
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