Norwegian energy giant Equinor and China Power International Holding (CPIH) have signed a memorandum of understanding to cooperate on offshore wind in China and Europe.
Equinor executive vice president of new energy solutions Pal 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: “CPIH, as a leading power generator in China, has been striving to develop its international strategy to become a pioneer of reliable energy provider worldwide.
“The signing of the MoU between CPIH and Equinor is a big step forward for both companies to move into new markets in renewables and develop a long-term strategic partnership.
“We strongly believe the collaboration between CPIH and Equinor in China and Europe will bring vast experience, knowledge and expertise to the industry.
“We look forward to deepen this partnership and develop a sustainable energy business together with our partner in both domestic and overseas markets.”