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EDF and CEI Groups join hands for offshore wind projects under construction and operational in China

  • EMR

EDF and China Energy Investment Corporation (CEI) sealed their industrial partnership with the final joint venture agreements and the closing of the transaction. This new company is now building and operating 502 MW of offshore wind power projects off the coasts of Jiangsu Province (north of Shanghai), China.

It includes Dongtai IV, a 302 MW wind farm fully commissioned since December 2019 and Dongtai V, a 200 MW project now in construction and due to be commissioned in 2021. Together, the partners will continue the construction of Dongtai V windfarm and set up the operations and maintenance activities.

EDF Group is taking a 37.5% stake in the common project company through its subsidiaries EDF Renewables and EDF China, whereas CEI Group holds the remaining stakes through its subsidiaries Shenhua Renewable and Shenhua Clean Energy Holdings.

This JV creation and the financial closing are a follow-up of the Cooperation Agreement signed on March 25th, 2019, between EDF and CEI chairmen, witnessed by France and China’s Heads of State.

Dongtai IV and V represent EDF Group’s first offshore wind projects in China.
The EDF Group is a major offshore wind player with solid skills in all areas from development to operations and maintenance. Its subsidiary EDF Renewables has an offshore wind projects portfolio close to 6.5 GW in development, under construction and under operations in France, Belgium, Germany, Ireland, United Kingdom, the United States and now in China.

The offshore wind market in China is booming with expected installed capacity over 40 GW by 2030 compared to 6 GW of installed capacity today. With 35 years of business development track record in this strategic country for the group, EDF is a well-recognized foreign player on the local energy market with 3.6 GW of power generation net capacities including in particular, nuclear, renewables and 3 district heating networks in operation. EDF Renewables currently operates and constructs more than 1 GW of renewable energy covering solar as well as onshore and offshore wind energies.

Bruno Bensasson, EDF Group Senior Executive Vice-President Renewable Energies and Chairman and Chief Executive Officer of EDF Renewables said: “EDF Group, which benefits from a recognized global expertise in offshore wind, is very pleased to support China, first country for renewable market growth, regarding its energy ambitions in reducing CO2 emissions. Thanks to this partnership, EDF which is already present in China through its other businesses: nuclear, solar, onshore wind and energy services, is strengthening its footprint in this strategic market. This partnership is also part of EDF’s CAP 2030 strategy, the Group is aiming to double its renewables capacities worldwide from 28 GW to 50 GW net between 2015 and 2030”.

EDF’s presence in China

With over 35 years of business experience in China, the EDF Group is active in a number of energy market segments:

Nuclear: As part of a joint venture with China General Nuclear Power Corporation (CGN), the Group has built and has been operating, two EPR reactors at Taishan nuclear power plant (3.5 GW). The first reactor was commissioned in December 2018 and the second one in September 2019. The plant supplies low-carbon electricity to approximately 5 million Chinese consumers. EDF is also assisting the CGN Group with the operation of its entire fleet.

Renewables: In July 2016, EDF Renouvelables acquired a majority stake (80%) in UPC Asia Wind Management (AWM), which develops and builds wind projects in China. In 2018, the Group diversified its business in distributed solar power by signing a joint venture with ACC, seeking to develop solar-roofing solutions for industrial customers. EDF in partnership with CEI now operates Dongtai IV offshore wind farm (302 MW of installed capacities) and constructs Dongtai V (200 MW).

Energy services: Since 2016, EDF has been operating a heating network for 8 million square metres of housing in the city of Sanmenxia (Henan province). In the neighbouring city of Lingbao, EDF is operating a 35-MW biomass cogeneration plant which supplies heating and electricity. On the tropical island of Hainan (southern China), the Group has started building an air-conditioning network for tourist complexes. Via its subsidiary Citelum, which specialises in public lighting, EDF manages 100 000 street lights in the city of Kunming (south-western China).

Fossil-fired power: EDF holds minority stakes in three companies operating thermal power plants.

About EDF
A key player in energy transition, the EDF Group is an integrated electricity company, active in all areas of the business generation, transmission, distribution, energy supply and trading, energy services. A global leader in low-carbon energies, the Group has developed a diversified generation mix based on nuclear power, hydropower, new renewable energies and thermal energy. The Group is involved in supplying energy and services to approximately 38.9 million customers1, 28.8 million of which are in France. It generated consolidated sales of €71.3 billion in 2019. EDF is listed on the Paris Stock Exchange. 1 Customers are counted since 2018 per delivery site; a customer can have two delivery points: one for electricity and another for gas.

About EDF Renewables
EDF Renewables is a leading international player in renewable energies, with gross installed capacity of 13 GW worldwide. Its development is mainly focused on wind and solar photovoltaic power. EDF Renewables operates mostly in Europe and North America but is continuing to grow by moving into promising emerging regions such as Brazil, China, India, South Africa and the Middle East. The company has strong positions in offshore wind power, but also in other areas of the renewable energies industry such distributed energy and energy storage. EDF Renewables develops, builds, operates and maintains renewable energies projects, both for itself and for third parties. Most of its international subsidiaries bear the EDF Renewables brand. EDF Renewables is the EDF Group subsidiary specialising in developing solar and wind power.
For more information, visit: www.edf-renewables.com
Follow us on LinkedIn and on Twitter @EDF_RE in French and @EDF_Renewables in English.

About Shenhua Renewable
Shenhua Renewable co., LTD. (hereinafter referred to as Shenhua Renewable) was registered and established at the end of 2015. The company, with a registered capital of 4.198 billion RMB, is a secondary subsidiary under the CEI Group and entrusted to Guohua Investment for management. Its foundation follows Guohua Investment’s decision to detach its “new energy” business. Shenhua Renewable is committed to the investment, construction and operation of renewable energy projects, focusing on wind power development and operation and the coordinated development of solar energy, hydrogen and other renewable energy. Up to now, the total assets of the company has reached 67.2 billion RMB, with 64 subordinate enterprises specialized in renewable energy. The company has a total installed capacity of 10.67 GW, including 10.14 GW of wind power and 520 MW of photovoltaic power. Its projects are spread across 14 provinces, cities and autonomous regions in China, as well as Australia and Greece.

EDF SA
22-30, Avenue de Wagram
75382 Paris cedex 08
Share capital of 1 463 719 402 Euros
552 081 317 R.C.S. Paris s
www.edf.fr

CONTACTS
EDF Renouvelables: +33 1 40 90 48 22
manon.decassini-herail@edf-en.com

Analysts & Investors: +33 1 40 42 40 38