CLP Power may raise electricity rates 2 per cent every year to cover the cost of a planned offshore wind farm, said the Hong Kong based power company.

The increases would last two decades from 2016, when the proposed farm would go into operation.

Based on an estimate that 60-70 wind turbines will be built, the project would cost $600–900m, said Lo Pak-cheong, Corporate Development Director of CLP Power Hong Kong.

CLP wants to build a wind farm in water southeast of Hong Hong, about 9 km from the Clear Water Bay peninsula.

CLP will install a data mast at the proposed site in the second quarter of 2012 to collect data on wind speed and wave size as well as temperature, humidity and air pressure. This study will determine the viability and size of the proposed project, said Lo.

A water depth of 30 metres would make the project one of the world’s deepest offshore wind farms.

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