Two subsidiaries of Power Construction Corporation of China (PowerChina) have completed registration in the Jiangdong New Area of Haikou City, the capital of Hainan Province. The two subsidiaries, the first registered on May 31 and the second on June 16, 2022, join another subsidiary of PowerChina that registered a capital of 3 billion yuan in the district on November 9, 2021, becoming PowerChina's three important clean energy investment platforms in Hainan.
PowerChina is a comprehensive state-owned enterprise with operations in more than 130 countries and regions around the world. The company works in clean and low-carbon energy, water resources, and environmental construction, and ranks 107th on the Fortune Global 500 list.
One of the subsidiary companies, PowerChina Offshore Wind Power Engineering Co., Ltd., will be engaged in the offshore wind power business, providing operation and maintenance services for offshore wind power projects as well as supporting the development of ports and terminals. The subsidiary will focus on the integration of the offshore wind power industry chain.
Another subsidiary will mainly focus on floating wind power projects. It will invest in the new energy power business, mainly in offshore wind power, and strengthen key technologies such as sea-floating wind power, green hydrogen production, and comprehensive utilization of ocean energy. The company will promote the high-quality development of China's deep-sea new energy industry.
With the help of Hainan Province's excellent marine resources and the beneficial policies of the Free Trade Port, PowerChina is seizing new opportunities for the development of the offshore wind power market and the marine new energy industry. It plans to develop a complete marine new energy industry chain and contribute to the high-quality development of the Hainan Free Trade Port.