(Yicai Global) July 16 -- Hengtong Optic-Electric is poised to provide submarine cable to a large offshore wind farm built by China Longyuan Power Group in eastern China's Jiangsu province, which will further entrench Hengtong's leading position in the submarine cable market.
Its subsidiary Jiangsu Hengtong HV Power Cable System recently received the winning bid award, per which it will supply 35kV submarine optic/electric composite cable and accessories for the 200 megawatt offshore wind farm in the waters off Dafeng district, Jiangsu, with the contract worth CNY98 million (USD14.65 million), the locally-based cable maker recently announced.
The winning bid will improve and consolidate the subsidiary's brand influence and market share in the offshore wind power sector. The unit will advance the rapid development of marine power transmission technology in China with its reliable and cost-effective design, production and engineering implementation, per the announcement.
Jiangsu Hengtong HV Power Cable System has furnished submarine cables to offshore wind farms in many coastal Chinese cities and provinces in recent years.
Another Hengtong Optic-Electric subsidiary also recently won the bid for a 2,800-kilometer submarine cable project in Chile, marking a 'milestone' of 10,000 km for the overall length of submarine optical cable construction the company has undertaken in the international marine cable market.
China has focused on developing onshore wind as a key contributor to its renewable energy targets, with total capacity at 75 gigawatts, growth was 69 percent from 2001 to 2012, but the difficulty of connecting this capacity to voracious eastern coastal regions has increased focus on offshore wind as a source of renewable energy close to demand, says a report think tank Carbon Trust compiled which the UK Embassy in Beijing commissioned, which also stated the Chinese government has set lofty targets of 5GW of installed offshore wind capacity by 2015 and 30GW by 2020, which would eclipse capacity in any other country.
Editor: Ben Armour