Tuesday, July 12, 2016

EDF takes position in wind power in China – Le Figaro

(AOF) – EDF accelerates its development in renewable energy and announced its first project in wind power in China. EDF Energies Nouvelles, a subsidiary dedicated to renewable energy, acquires a majority stake in the company UPC Asia Wind Management (AWM), which develops and builds wind power projects in China.

Following this acquisition, EDF Energies Nouvelles now holds 80% of shares of the company UPC AWM based in Hong Kong. UPC partners China, historic local developer and the US investment fund Global Environment Fund (GEF) are shareholders in the company to 20%.

This new development partnership is made possible through the anchoring EDF in China, where the group is present for more than 30 years through its activities in the nuclear, thermal, hydro and energy services.

China has become the leading global renewable energy market with strong growth expected in the coming years. The Chinese Government has indeed aims to reach 200 gigawatts (GW) of installed wind capacity by 2020, an average increase of 15 GW per year.

China is a priority country for EDF, which is the first major European energy player to break into the Chinese renewable energy market with significant ambitions.

the group that increases through this new partnership contract its wind portfolio of over 1, 3 GW -in development, construction or operating in the country – is now at the head of more than 10 GW in operation in the world

the CEO of EDF, Jean-Bernard Lévy. , said: “as part of EDF’s strategy, CAP 2030, our ambition is to accelerate our production of low-carbon electricity, through a diversified energy mix where nuclear and renewables complement our development. the high-potential markets such as China fits perfectly into this dynamic. This country, which we operate for more than 30 years, EDF offers significant growth prospects and look forward to going to strengthen our presence in renewable energy. “

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