China Three Gorges Plans to Make New Energy Its Second Core Business With Focus on Offshore Wind

China Three Gorges Plans to Make New Energy Its Second Core Business With Focus on Offshore Wind

Liao Shumin

Date: Tue, 10/17/2017 - 17:56 / source:Yicai
China Three Gorges Plans to Make New Energy Its Second Core Business With Focus on Offshore Wind
China Three Gorges Plans to Make New Energy Its Second Core Business With Focus on Offshore Wind

(Yicai Global) Oct. 17 -- China Three Gorges Corp., the country’s biggest hydro power firm, plans to prioritize new energy as its second core business with a focus on offshore wind, Deputy General Manager Bi Yaxiong said at the 2017 China Wind Power yesterday.

Three Gorges main business is hydro power, but the firm will have completely expanded its operations in this area by about 2050, Bi said. “We are expected to figure out the deadline,” he said. “It is essential to bring forth another energy, and new energy will be the most potential one in the long run.”

The group’s controllable installed new energy capacity was 8 million kilowatts as of last month. Its offshore wind power capacity under construction was 600,000 kilowatts by the end of last year, data from the company’s annual report show. It had over 10 million kilowatts in wind power resource reserves then.

Replacing fossil energy with clean sources is an inevitable trend, said Bi. Offshore wind power policies have strong support, and international experience has proved that offshore wind power can be profitable, he said.

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Keywords: Three Gorges Corporation, Offshore Wind Power