Chinese company acquires 75% of large Swedish wind power project

The European division of China General Nuclear Power Group announced on Tuesday that it has signed a contract with Macquarie Group and General Electric (GE) to acquire 75 percent of the stock of Sweden's North Pole wind power project in Pitea, Sweden.

Construction work at the site of the Sweden's North Pole wind power project, seen here on Tuesday, July 17, 2018. [Photo: China General Nuclear Power Group]

The project will see 179 wind turbines installed and connected to the grid before the end of next year. The wind turbines will have a total generating capacity of 650,000 kilowatts, making it Europe's largest onshore wind farm. The output of the wind farm is enough to power around 400,000 homes, and reduce carbon dioxide emissions by around 750,000 tons a year.

Lu Wei, the president of China General Nuclear Power Group's European division, said that the successful acquisition of the Swedish project had enabled the company to enter the Nordic market with nearly 1.6 million kilowatts of renewable energy assets under construction.

Since the company was founded in France in 2014, its total wind and solar power assets have reached nearly 1 million kilowatts, and the company has become France's sixth largest clean energy generator.

China General Nuclear Power Group is the largest nuclear power enterprise in China, and the third largest in the world.