Global EditionASIA 中文双语Français
World
Home / World / Portugal

Hydropower operator looks to third-party opportunities

By ZHENG XIN | China Daily | Updated: 2018-12-06 09:44
Share
Share - WeChat
Three Gorges Dam, a gargantuan structure straddling the Yangtze River in Hubei province. [Photo/VCG]

China Three Gorges Corp, which built and now operates the world's largest hydroelectric power plant - at Three Gorges Dam - is looking forward to further cooperation with Portugal to jointly tap the potential of third-party markets.

In addition to the 950-megawatt Moray offshore wind project in Scotland that CTGC and Portuguese power company Energias de Portugal will jointly explore, the Beijing-based company said it looks forward to more exploration of third-party markets around the world.

The two sides have made significant progress in third-party markets since a strategic partnership was established in 2011. The companies aim to further combine efforts to become a worldwide leader in renewable energy generation.

Hoping to further diversify its business beyond hydropower and become a leader in China's offshore wind power sector, China Three Gorges has been constructing offshore wind power projects in Fujian, Jiangsu, Liaoning and Guangdong provinces.

The partnership has been strengthening EDP's credit profile, allowing the company to diversify growth opportunities while boosting globalization of its Chinese partner and bringing in more talent, said Lei Mingshan, chairman of China Three Gorges.

Analysts believe Chinese companies' cost-control abilities provide advantages in exploring clean energy markets abroad.

Chinese clean energy companies have been expanding their presence overseas. Their wide-ranging know-how of hydroelectric plants and their experience in the field are second to none, said Joseph Jacobelli, a senior Asian utilities analyst at Bloomberg.

Under the current cooperation between Portugal's EDP and China Three Gorges, the latter aims to become a world-class clean energy group by using its technological and industrial advantages, it said.

EDP, one of Portugal's largest business groups, ranking among Europe's top power companies, led a delegation to Chongqing last year to provide technical and marketing suggestions to Liangjiang Changxing Electric Power Co.

Most Viewed in 24 Hours
Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US