CHINA Power International Holding (CPIH) and Norwegian company Equinor have signed a Memorandum of Understanding (MoU) to cooperate on offshore wind projects in China and Europe.
The MoU was signed in Beijing on September 25, by CPIH president Jun Tian and executive vice president from Equinor, Pal Eitrheim. Minister Counsellor & Deputy Head of mission from the Norwegian embassy, Mattis Raustol also attended the ceremony.
Stavangar based Equinor is involved in oil & gas as well as renewables and is active in more than 30 countries worldwide. It is the largest offshore wind operator in Norway.
Equinor has been in China since 1982. The Lufeng oil field, a partnership with China National Offshore Oil Corporation (CNOOC) in the South China Sea, was the company’s first international project back in 1997, and was in production until 2009.
Equinor has a well-established crude oil trading business in China and is engaged in international upstream partnerships with a number of Chinese companies. These include CNOOC, China National Petroleum Corporation (CNPC), Sinochem and Sinopec.
“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,” says Eitrheim.
CPIH has been developing its international strategy, and CPIH president Jun Tian said that 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,” he says.
As a core subsidiary of the state-owned enterprise State Power Investment Corporation (SPIC), China Power International Holding Limited (CPIH) develops and operate power projects within traditional and renewable energy.
