Norwegian energy giant Equinor is teaming up with Chinese shipyard CIMC Raffles to develop offshore wind projects off Shandong province in China.
“We are looking forward to cooperating with CIMC Raffles, a strong, local industrial partner in this area, to jointly mature and develop early and at scale, offshore wind projects,” said an Equinor spokeswoman.
“The agreement with CIMC Raffles has the potential to support Equinor’s strategy to become a global offshore wind major by building scale in core areas and securing growth options in attractive markets for offshore wind,” she added.
The spokeswoman said that Shandong province plans to allocate a total of 23GW of offshore wind projects by 2025.
“Equinor has a clear target that by 2035 we will increase our renewable capacity installed by 30 times from today,” she said.
“We are stepping up to become a global offshore wind major, and to deliver on our strategy we continue to assess different business opportunities globally.”
The deal took place on the same day that Norway’s Ambassador to China, Signe Brudeset, visited CIMC Raffles in Yantai.