The U.K.'s Offshore Renewable Energy (ORE) Catapult, a technology innovation and research center for offshore renewable energy, is partnering with China's Tus-Wind to establish a £2 million research center in China, ORE Catapult announced Wednesday.
Based in Yantai in China's Shandong Province, the TUS-ORE Catapult Research Center will drive offshore wind technology innovation and support the development of an offshore wind farm of at least 300 megawatts in capacity, with a minimum 10 percent U.K. content, according to a press release from the center.
The Yantai local government authority is backing the three-year investment.
"This represents a U.K. supply chain export opportunity of at least £90 million and provides a launch pad for the U.K. to access the Chinese wind market, estimated to be worth £15 billion by 2030," the statement read.
The center will assist U.K. small to medium-sized enterprises looking to enter the Chinese market, and lead research and development projects to drive collaboration between the two countries, ORE Catapult said.
U.K. Business Secretary Greg Clark said "this exciting international collaboration" showed how U.K. companies, backed by government, were exporting products and expertise worth tens of millions of pounds around the world.
ORE Catapult's Research and Innovation Director Stephen Wyatt said China was one of the world’s fastest growing markets for offshore wind technologies, adding that the partnership presented "a huge opportunity for technology transfer and for U.K. companies to export their innovative products and services to one of our largest global trading partners".
TusEnergy Senior Vice President Yingzhuo Du added that the collaboration with ORE Catapult would help drive the cost of renewable energy down.
"Moreover, we expect to have new technologies developed and commercialized out of China-U.K. joint research projects," he said.
By Hale Turkes