Furnas and China Three Gorges Corporation (CTGC) have invited EDP Renováveis (EDPR) to participate in their joint venture project to develop a 200MW offshore wind farm off Jiangsu province in eastern China.
Furnas’ planning director Olga Simbalista today confirmed to Windpower Offshore that “we are offering EDPR the opportunity to take a role”. EDPR’s participation makes sense given its presence in Furnas' home market of Brazil as well as CTGC’s significant stake in the Portuguese company, said Simbalista.
EDPR would be able to bring technical expertise to the project “given the highly developed state of wind-power technology in Portugal,” she added.
As previously reported by Windpower Offshore, the 200MW project in Jiangsu being developed by CTGC and Furnas has been slow to move ahead. Neither company has offshore wind experience, although Furnas has a Brazilian onshore wind energy project pipeline.
In a related development, EDPR’s third quarter results, published yesterday, report revenue rising year-on-year by 22%, to €936m and net profit up by 48%, to €93m. The good results were due to increased wind power generation and higher prices for its production in its three markets: Europe, USA and Brazil. By comparison, EDP's group-wide results report third quarter profits down by 5.2% to €910m.