GD Power Development Co. (600795), a Chinese electricity generator and distributor, said its unit secured approval for a 250-megawatt offshore wind farm in China’s eastern province of Zhejiang.
The unit, Zhejiang Zhoushan Offshore Wind Power Development Co., will spend 4.45 billion yuan ($733 million) on the project, GD Power said today in a filing to the Shanghai stock exchange. It will be the first sea-based wind farm approved in the province by the local Development and Reform Commission, it said.
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