On December 2nd, Orient Cable announced its plan to establish a joint venture company with external investment.
According to the announcement, Huadian New Energy Group Co., Ltd., Guangdong Goldwind Technology Co., Ltd., Ningbo Orient Cable Co., Ltd., China Water Resources and Hydropower Fourth Engineering Bureau Co., Ltd., and Hainan Chengbang Investment Holding Co., Ltd. will jointly invest in the establishment of a joint venture company in Yangjiang City, Guangdong Province, responsible for the investment, construction, and operation of the Guangdong Huadian Yangjiang Sanshan Island 650,000 kilowatt offshore wind power project. The joint venture company will be majority owned by Huadian New Energy Group Co., Ltd., with the remaining four companies as minority shareholders. The five parties will invest in a cooperative manner with a shareholding ratio of 90%: 3%: 3%: 2%: 2%. The registered capital is 50 million yuan, which will be injected in stages.

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