HONG KONG - Hongkong Electric Holdings said it plans to develop an offshore wind power project worth up to HK$3 billion ($385 million) in southwest Lamma.

The project, with a capacity of about 100 megawatts (MW), could power 50,000 households and account for up to 2 percent of the company's annual electricity production, a spokeswoman told Reuters on Friday.

She said the company expected to complete the project in 2015.