CNOOC looks to sharpen focus on offshore RE ventures

CNOOC’s current Jiangsu project is the first offshore wind project it has worked on since then.

BEIJING: Offshore oil and gas major China National Offshore Oil Corp (CNOOC) has pledged to spend 3% to 5% of its annual budget on the offshore wind power sector after its first offshore wind power project was connected to the grid and began generating power recently.

This is the first batch of wind turbines by CNOOC that has been connected to the grid. Located off the coast of Jiangsu province, the project, with a total installed capacity of 300 megawatts, is scheduled to fully come into on-grid production by the end of this year.

The annual on-grid power generation is expected to reach about 860 million kWh by then, said the offshore oil and gas specialist.

The company first entered the offshore wind business in 2006 but pulled out soon after. In 2007, CNOOC began operating the Chinese mainland’s first offshore wind power plant, located in Liaodong Bay in the Bohai Sea, with an installed capacity of 1.5 megawatts.

It revived activities in offshore wind power in 2019 after closing its renewable unit in 2014, which had operated wind, solar and biomass projects. CNOOC’s current Jiangsu project is the first offshore wind project it has worked on since then.

The wind farm, which will be equipped with 67 wind turbines, is based 39 km offshore at a location with a water depth of 12 m.

It is expected to save 279,000 tonnes of standard coal equivalent and reduce carbon dioxide emissions by 571,000 tonnes per year compared with conventional coal-fired thermal power plants with the same generating capacity, it said.

The company said earlier that the offshore wind sector aligns with the company’s overall business, and it can apply its resources in offshore engineering and experience in offshore operations in the sector.

CNOOC holds a 47% stake in the offshore wind power project off Jiangsu. It also has plans for other projects off Guangdong and Shandong provinces.

The company also plans to more than double its natural gas production by 2025 to make up 30% of its total oil and gas output from 19% now. — China Daily

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