CNOOC president Fu Chengyu said the decision to bid the project is based on the company's policy to diversify beyond its core oil and exploration and production business.
China's first-ever offshore wind power project, off Shanghai, is designed with 100,000 kilowatts of installation capacity and will involve a total investment of 2.12 billion yuan ($265 million). Building work is expected to start next year with completion scheduled three years later.
Fu
