Calendar An icon of a desk calendar. Cancel An icon of a circle with a diagonal line across. Caret An icon of a block arrow pointing to the right. Email An icon of a paper envelope. Facebook An icon of the Facebook "f" mark. Google An icon of the Google "G" mark. Linked In An icon of the Linked In "in" mark. Logout An icon representing logout. Profile An icon that resembles human head and shoulders. Telephone An icon of a traditional telephone receiver. Tick An icon of a tick mark. Is Public An icon of a human eye and eyelashes. Is Not Public An icon of a human eye and eyelashes with a diagonal line through it. Pause Icon A two-lined pause icon for stopping interactions. Quote Mark A opening quote mark. Quote Mark A closing quote mark. Arrow An icon of an arrow. Folder An icon of a paper folder. Breaking An icon of an exclamation mark on a circular background. Camera An icon of a digital camera. Caret An icon of a caret arrow. Clock An icon of a clock face. Close An icon of the an X shape. Close Icon An icon used to represent where to interact to collapse or dismiss a component Comment An icon of a speech bubble. Comments An icon of a speech bubble, denoting user comments. Ellipsis An icon of 3 horizontal dots. Envelope An icon of a paper envelope. Facebook An icon of a facebook f logo. Camera An icon of a digital camera. Home An icon of a house. Instagram An icon of the Instagram logo. LinkedIn An icon of the LinkedIn logo. Magnifying Glass An icon of a magnifying glass. Search Icon A magnifying glass icon that is used to represent the function of searching. Menu An icon of 3 horizontal lines. Hamburger Menu Icon An icon used to represent a collapsed menu. Next An icon of an arrow pointing to the right. Notice An explanation mark centred inside a circle. Previous An icon of an arrow pointing to the left. Rating An icon of a star. Tag An icon of a tag. Twitter An icon of the Twitter logo. Video Camera An icon of a video camera shape. Speech Bubble Icon A icon displaying a speech bubble WhatsApp An icon of the WhatsApp logo. Information An icon of an information logo. Plus A mathematical 'plus' symbol. Duration An icon indicating Time. Success Tick An icon of a green tick. Success Tick Timeout An icon of a greyed out success tick. Loading Spinner An icon of a loading spinner.

European projects amass 96% of Chinese renewables investment, EY report claims

The Moray Firth wind farm developments.
The Moray Firth wind farm developments.

European renewable energy projects accounted for 96% of Chinese investment in 2018, according to a new report by professional services firm EY.

The research shows that of the £26.2 billion invested last year by China, £25.1bn was attributable to Europe.

China was 2018’s largest outbound investor globally, with Germany, France and the UK seeing the lion’s share of investment.

The report, entitled How strong conditions in Europe are boosting utilities investment, claims a number of megadeals involving Chinese firms shaped the investment landscape in the energy sector last year.

EY added that 49% of deals took place in Europe.

The report also said that one of the two biggest deals to take place was China Three Gorges proposed takeover bid of Portugal’s EDP, which owns transmission and distribution across Europe.

The 950 megawatt Moray East Offshore Windfarm development is 33.3% owned by EDP Renewables, Mistubishi subsidiary DGE holds 33.4%, ENGIE holds 23.3% and the remaining 10% stake is owned by China Three Gorges.

EDP rejected an £8.4bn takeover bid by the Chinese firm in 2018.

Miles Huq, EY Global Power and Utilities Transaction Advisory services leader, said: “Renewables make up almost half of deal volume.

“Globally, renewables made up 46% of total deal volume – 253 deals – but only 19% of total deal value (£37.3bn).

“Strong policy support saw Europe attract the largest share of renewables, with more than 40% of deal value and volume.”

Recommended for you

More from Energy Voice

Latest Posts