EDF has announced it has entered the growing renewables energy market in China.
The French utility has bought an 80% stake in UPC Asia Wind Management (AWM) which develops and builds wind projects in China.
US investment fund Global Environment Fund will retain a 20% share.
The new partnership is expected to add more than 1.3GW of wind power capacity to EDF’s portfolio.
Jean-Bernard Lévy, Chairman and CEO of EDF Group said: “In the framework of EDF’s strategy CAP 2030, our goal is to accelerate our low carbon generation, with a diversified energy mix where nuclear and renewable energy balance each other. Our development in high potential markets, such as China, is a full part of this dynamic process.”
The Chinese Government has set a target to install 200GW of wind capacity by 2020.