(Yicai Global) Nov. 14 -- State Power Investment, one of China's major electricity generation firms, has given a consortium led by Huadian Heavy Industries a CNY1.4 billion (USD196.5 million) contract to build an offshore wind farm in southern China's Guangdong province, the two companies' fifth project of cooperation.

State Power Investment has penned a procurement, engineering, and construction contract with the Huadian-led consortium regarding the 400-megawatt project in Jieyang, the Beijing-based construction engineering firm said in a statement yesterday. 

Jieyang has ample wind power potential and the city's installed offshore capacity should reach 13,800 MWs by 2030, according to the province's plan. 

The project includes 29 units of 7-MW wind power equipment, expected to be completed in less than two years. Huadian will receive about 97 percent of the contract sum -- equaling nearly one-quarter of its audited revenue in 2018 -- and the State Nuclear Electric Power Planning, Design & Research Institute will have the rest. 

Huadian's [SHA: 601226] share price rose by 2.8 percent to CNY4.05 (US 60 cents) in the morning. 

Editor: Emmi Laine