China's CATL to make USD-1.82bn offshore wind investment - report

Chinese electric vehicle (EV) battery maker Contemporary Amperex Technology Co Ltd (SHE:300750), or CATL, has won clearance to invest CNY 13 billion (USD 1.82bn/EUR 1.68bn) in an offshore wind project that would supply one of is production sites.

The Fujian Provincial Development and Reform Commission said on Monday, as quoted by Caixin Global, that it gave the go-ahead to an 800-MW offshore wind project as well as the associated energy storage and auxiliary projects.

Fujian Runshi Offshore Wind Power, a subsidiary of CATL, is developing the scheme off China’s eastern coast and hopes to begin construction within two years.

(CNY 1.0 = USD 0.140/EUR 0.129)

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