China Three Gorges Weighs $2.3 Billion Offshore Wind Investments

China Three Gorges Corp., the world’s biggest dam operator, won deals to design two separate offshore wind farms that may require investment of as much as 14.7 billion yuan ($2.3 billion).

The facilities include a 600-megawatt wind farm in Putian in China’s eastern coastal province of Fujian and a 300-megawatt unit in the northern province of Hebei, the company said in a statement on Monday.

The decision reflects the government’s push to expand offshore wind power capacity, which stood at 1,702 megawatts at the end of July, according to the National Energy Administration. China has called for local authorities in coastal areas to promote offshore wind and is working with ministries overseeing oceans, the environment and the military to overcome disputes.

A Three Gorges unit called Shanghai Investigation, Design & Research Institute Co. will do a feasibility study the Putian wind farm, which may have 120 wind turbines, each with a capacity of 5 megawatts. It would cost as much as 10.8 billion yuan because it’s near the coast, according to Zhou Yiyi, an analyst at Bloomberg New Energy Finance In Shanghai.

The other 300-megawatt project will be developed by Hebei Construction & Investment New Energy Co. in Tangshan in the northern province of Hebei, according to the statement. Financial details weren’t disclosed. BNEF estimated the costs of that unit at 3.9 billion yuan.

— With assistance by Feifei Shen

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