Jan 31, 2024 06:00 AM

BUSINESS

CATL to Invest $1.83 Billion to Build First Offshore Wind Power Project

By Lu Yutong and Denise Jia

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An offshore wind power plant in Guangxi.

An offshore wind power plant in Guangxi.

Contemporary Amperex Technology Co. Ltd. (CATL), the world’s biggest maker of electric-vehicle batteries, has been given the green light to invest 13 billion yuan ($1.83 billion) in building its first offshore wind power project.

Fujian Provincial Development and Reform Commission said Monday it has approved the construction of an 800-megawatt offshore wind farm project and related energy storage and auxiliary projects.

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