TIANJIN, March 29 (Xinhua) -- Tianjin Economic and Technological Development Area (TEDA) has signed a contact to build an offshore wind power station to power its petrochemical industries.

The TEDA signed the contract with China Three Gorges New Energy Co., Ltd on a 18-billion-yuan power base with an annual generation capacity around 2.4 billion kilowatt hours, enough to power ten medium-sized petrochemical factories.

The project requires approval from the central planners and construction is expected to begin in 2020.

The first phase of the project will cover around 20,000 square meters offshore in the the Nangang Industrial Zone in Tianjin.

"The potential of offshore wind power is huge. Such big project will attract high-end manufacturers," said Li Bin, director of Three Gorges New Energy.

Wang Junming, deputy director of TEDA management committee, said the power generated will greatly reduce reliance on coal and gas.

China Three Gorges New Energy Co., Ltd is a subsidiary of China Three Gorges Corporation.