The British Chamber of Commerce Shanghai has launched a UK-China hub for offshore wind.
Operated by the British Chamber Shanghai and supported by Department for International Trade and RenewableUK, the Offshore Wind (OSW) Hub is expected to help UK companies create business opportunities in China.
The hub is expected to foster and promote bilateral trade and increase stake in the success of its members by promoting greater understanding of the UK expertise in this field, creating deeper ties between members and the offshore wind industry in China, and grow people-to-people links.
China plans to invest CNY 2.5 trillion (USD 361 billion) in renewable energy projects by 2020, according to the country’s National Energy Administration (NEA).
The announced investment is part of the country’s 13th Five-Year Plan for Renewable Energy Development which is expected to ensure that renewable energy projects contribute to half of the country’s electricity generation by 2020.
With the new investments in place, China’s wind generation capacity will be increased by 210GW by 2020, NEA said.
Currently, China’s installed wind power capacity stands at around 176GW.