By Susanna Twidale LONDON (Reuters) -Britain’s largest electricity supplier Octopus Energy has signed a deal with Chinese wind turbine manufacturer Ming Yang Smart Energy, which could see the first
Octopus Energy Teams Up with Chinese Wind Turbine Manufacturer
Partnership Overview
By Susanna Twidale
Goals of the Collaboration
LONDON (Reuters) -Britain’s largest electricity supplier Octopus Energy has signed a deal with Chinese wind turbine manufacturer Ming Yang Smart Energy, which could see the first Chinese made turbines installed in Britain.
Industry Context and Challenges
Britain is seeking to scale up renewable power to help meet its climate targets but is also grappling with rising project costs and high electricity prices.
Political Engagement with China
The partnership, announced on Thursday, will see the companies explore opportunities to use Ming Yang Smart Energy’s technology as part of Octopus Energy's plans to develop up to 6 gigawatts of wind through its Winder initiative, which matches communities that would like wind farms with project developers.
“By combining Octopus’s expertise in smart technology and software with outstanding wind turbines, we can optimise every kilowatt and cut energy costs for millions of bill payers,” Zoisa North-Bond, CEO of Octopus Energy Generation, said in a statement.
Elsewhere in Europe, the European Commission last year launched a review into Chinese turbine manufactures in response to industry concerns that cheaper imports could threaten the competitiveness of European firms.
Ming Yang Smart Energy was due to supply turbines for a 300-megawatt Waterkant wind farm in Germany under a deal announced last year, but Hamburg-based asset manager Luxcara said last month it had instead chosen Siemens Gamesa, a subsidiary of Germany's Siemens Energy as its supplier.
Britain’s Energy Minister Ed Miliband visited China earlier this year to discuss climate and energy issues, and has said it would be negligent to not engage with China on climate issues.
(Reporting by Susanna Twidale; Editing by Susan Fenton)
