The UK has been a pioneer of offshore wind farms, such as this one. Photo credit - Pixabay
China Resources Power Holdings Co. has emerged as a potential buyer of a stake in the UK's offshore wind farms.
That's according to specialist publication Bloomberg Markets, who report that the current owners of stakes in two of the UK's leading renewable energy projects may be up for sale.
Potential bidders are said to include Aviva and China Resources Power Holdings Co., with the assets apparently worth as much as $1.5 billion.
Such an investment would seem to be logical for a Chinese company. Whilst China has undoubtedly taken a global lead when it comes to renewable energy, offshore wind power is something which the UK has pioneered and in which it holds particular engineering expertise.
The sale would also represent a sturdy investment.
The UK struggles to meet its own needs for power supply, with as much as sixty percent of its energy being imported. That means that prices of renewable energy, produced locally, could be set to rise in line with increasing demand.
At the end of 2016, we reported that a third of the world’s investment in renewable energy during that year came from China.
Adnan Amin, director-general of IRENA, which has 149 member states and works with governments to promote the adoption of sustainable energy sources, said that of $330 billion invested globally last year, $103 billion had come from China.