SDIC Power Holdings announced that the company, through its wholly-owned British subsidiary Redstone Energy, and the Irish Electricity Company, established a joint venture company, each holding 50% equity in ICOL Company. ICOL Company is responsible for the development and subsequent construction of the English Quay Project, located in the North Sea region of Scotland, with a planned installed capacity of 1,080MW. The total dynamic investment for the English Quay Project is 4.166 billion British pounds (including transmission engineering), and Redstone Energy is expected to contribute a capital amount not exceeding 0.962 billion British pounds according to its shareholding ratio. This investment has been approved by the company's board of directors, received preliminary consent from the State-owned Assets Supervision and Administration Commission of the State Council, and will also need to go through the investment filing procedures of the National Development and Reform Commission and the Ministry of Commerce.