News Content
Cosco forms JV with DEME unit to develop Chinese offshore wind energy
A JOINT venture company to develop offshore wind energy in China has been established by Belgian dredging group DEME and China Cosco Shipping, which specialises in shipping, logistics, wharf services, ship building and ship repair.
In a bid to enter this market segment, China Cosco Shipping has found a partner in DEME's subsidiary GeoSea, which has extensive experience in developing, building and maintaining offshore wind farms.
The cooperation ties in with China's climate vision as set out in its 13th Five-Year Plan (2016-2020) for social and economic development, reported Fort Lauderdale's Maritime Executive.
DEME chief executive Alain Bernard said the cooperation is in line with the group's partnering philosophy, in which DEME expands its international activities through sustainable cooperation with local partners. "Such combinations have repeatedly proven successful in DEME's dredging and environmental divisions," he was quoted as saying.
China has failed to achieve its target of raising the nation's offshore wind power capacity owing to technical problems and high costs, which in the absence of more state subsidies could impact its plans to install 10 gigawatts (GW) by 2020, developers said earlier this year.
China is the world's top generator of electricity from wind turbines, with 145 GW of installed capacity, but most of this is onshore. The push to expand offshore has been driven by the fact that many of its major economic hubs are near the coast.
The country's first offshore project, the 102-megawatts (MW) Donghai Bridge Wind farm, was built eight years ago in Shanghai. Development has, however, slowed since then with a total capacity of only one GW being installed by 2015, versus a target of five GW, according to the Global Wind Energy Council.
For more, visit www.shippingazette.com
In a bid to enter this market segment, China Cosco Shipping has found a partner in DEME's subsidiary GeoSea, which has extensive experience in developing, building and maintaining offshore wind farms.
The cooperation ties in with China's climate vision as set out in its 13th Five-Year Plan (2016-2020) for social and economic development, reported Fort Lauderdale's Maritime Executive.
DEME chief executive Alain Bernard said the cooperation is in line with the group's partnering philosophy, in which DEME expands its international activities through sustainable cooperation with local partners. "Such combinations have repeatedly proven successful in DEME's dredging and environmental divisions," he was quoted as saying.
China has failed to achieve its target of raising the nation's offshore wind power capacity owing to technical problems and high costs, which in the absence of more state subsidies could impact its plans to install 10 gigawatts (GW) by 2020, developers said earlier this year.
China is the world's top generator of electricity from wind turbines, with 145 GW of installed capacity, but most of this is onshore. The push to expand offshore has been driven by the fact that many of its major economic hubs are near the coast.
The country's first offshore project, the 102-megawatts (MW) Donghai Bridge Wind farm, was built eight years ago in Shanghai. Development has, however, slowed since then with a total capacity of only one GW being installed by 2015, versus a target of five GW, according to the Global Wind Energy Council.
For more, visit www.shippingazette.com
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