France's EDF buys Chinese wind energy firm by Staff Writers Paris (AFP) July 12, 2016 State-owned French energy giant EDF said Tuesday it had taken a controlling stake in Hong Kong-based Chinese firm UPC Asia Wind Management (AWM), adding to a range of activities in China. EDF, which did not reveal what it had paid for the 80 percent stake in AWM, the local arm of UPC China, already has nuclear activities in China, as well as a presence in thermals and hydraulics. US investment fund Global Environment Fund (GEF) will retain a 20 percent share of AWM, said EDF, which last year dubbed China the centre of gravity of the global energy industry. The French firm, which highlighted its view of China as a priority growth market, is present in a swathe of Chinese cities, notably with a stake in a nuclear plant at Taishan in the south. "Our ambition is to accelerate our production of low-carbon electricity, thanks to a diversified energy mix where nuclear and renewable energies are complementary," said EDF's CEO Jean-Bernard Levy. "Our development in high potential markets such as China sit perfectly within this dynamic," he added in a statement. China's recent high growth environment has seen energy consumption rise exponentially in recent years and carbon currently has a 70 percent share in the mix. However, Beijing's "ambition is to reach 200 gigawatts of installed windpower capacity by 2020 -- a rise of 15 GW per year," said EDF. By the end of 2014, China already had surpassed the United States as the country with the world's largest installed base of wind power at 100 GW. jum/sl/cw/pdw
Related Links Wind Energy News at Wind Daily
|
|
The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us. |