EDF has bought a majority 80% stake in UPC Asia Wind Management (AWM) to enter China’s wind energy market.
The French state-controlled utility did not reveal a value for the deal which was done through its renewable unit.
The move marks Europe’s first major energy step into China’s wind market.
EDF Energies Nouvelles’ executive Bruno Fyot said: “Our ambition is to build between 200 MW to 300 MW per year so as to reach 2 GW of installed capacity within five years.
“This will make China one of our biggest bases of installed capacity.”
The company also said China was a priority market for EDF with strong growth expected in the renewables sector in the coming years.
Recommended for you
