Contemporary Amperex Technology (CATL), the world’s biggest maker of electric-vehicle batteries, has been given the green light to invest RMB 13 billion ($1.83 billion) in building its first offshore wind power project, reports Caixin. Fujian Provincial Development and Reform Commission said Monday it has approved the construction of an 800-megawatt offshore wind farm project and related energy storage and auxiliary projects.
The developer of the project is Fujian Runshi Offshore Wind Power, a subsidiary CATL registered in April. CATL’s green energy unit owns 96% of the new company, and state-owned Fujian Mindong Electric Power and PowerChina Fujian Electric Power Engineering own the rest.
Construction needs to start within two years. Once completed, the wind power project, lying in the eastern offshore near CATL’s headquarters in Ningde, will provide green energy to the company’s battery factory.