Chinese battery manufacturer CATL is to spend 10.5 billion yuan (US$1.5 billion) on an offshore wind power station in Ningde, the company’s hometown in Fujian province.
The project, 50 kilometers offshore, covers 94 square kilometers and will be home to 59 wind turbines - a total installed capacity of 800,000 kilowatts.
CATL has obtained offshore wind power quotas to ensure its own electricity supply is in line with its zero-carbon strategy. CATL has already achieved zero carbon emissions in four of its factories
In the first three quarters of this year, CATL's revenue increased by 40.1 percent year-on-year, reaching 295 billion yuan. During the same period, the net profit was 31.1 billion yuan, a year-on-year growth of 77 percent.
