Norway’s state oil and energy company Equinor and China Power International Holding (CPIH) have signed a memorandum of understanding (MoU) to co-operate on offshore wind projects in China and Europe
The MoU also includes options to expand collaboration between the companies and was signed in Beijing on 25 September 2019.
Equinor executive vice president of new energy solutions Pål Eitrheim said, “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. As an offshore wind major, Equinor is excited to collaborate with CPIH to develop offshore wind.”
CPIH president Jun Tian said, “As a leading power generator in China, CPIH is striving to develop its international strategy and become a pioneer of reliable energy worldwide. The MoU is a big step forward for both companies.”
Equinor has been present in China since 1982 in the offshore oil and gas sector. CPIH is a subsidiary of state-owned enterprise State Power Investment Corporation and operates renewable and conventional power projects.