Six Chinese industry giants form CNY 2.5 billion JV for offshore wind

China Communications Construction Co. (CCCC) announced that CCCC Third Harbor, CCCC Industrial Investment, Three Gorges Energy, Datang Power Generation, Guohua Investment and Envision Energy entered into an agreement to jointly fund and form a joint venture company for the offshore power generation market. The newly formed company, CCCC Offshore Wind Power Development Co, will have a registered capital of CNY 2.5 billion (USD 368 million). CCCC will be a majority stakeholder with 57 % of the JV’s stake in total. The business scope includes offshore wind power operation and maintenance, and offshore wind power equipment investment.

(CCCCLTD, Longchuan Wind Power)

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