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China oil giant plunges into wind business

Fu Chengyu, the executive of China National Offshore Oil Company (CNOOC), told the press that offshore wind energy will be an increasingly important part of their energy industry, and plans have already been made to explore the wind business, according to Shanghai Securities News – a state-run news service.

The potential offshore wind energy is anticipated to be 750 million kilowatts, three times of the onshore wind. But average cost of one degree electricity generated  of the former is 1 yuan ($0.13), noticeably higher when compared with that of the coal power electricity ($0.04) and onshore wind power electricity ($0.07).

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