Equinor and Chinese yard CIMC Raffles have signed a strategic co-operation agreement to mutually develop local offshore wind projects in Shandong province as well as other renewables projects in China.
China has set a goal of becoming carbon neutral by 2060. The country aims to become the world’s largest offshore wind market and has an ambition to install over 12GW by 2020 and 40GW to 65GW by 2030. Shandong province plans to allocate a total of 23GW of offshore wind projects by 2025.