MingYang Smart Energy and the U.K. Department for International Trade (DIT) have entered into a memorandum of understanding (MOU) for the China-based company to invest in the U.K.’s offshore wind sector.
Qiying Zhang, president and chief technology officer of MingYang, and John Edwards, Her Majesty’s Trade Commissioner to China of DIT, jointly signed the MOU online.
The agreement will focus on MingYang’s investing in a blade manufacturing factory, a service center and conceivably a turbine assembly factory in the U.K. Following this MOU, both parties will work together to complete a final investment agreement of the above-mentioned factories once all pre-conditions are fulfilled.
Furthermore, MingYang and DIT will collaborate to explore other market entry options in the U.K., including wind turbine testing, offshore wind demonstration projects and pre-commercial wind farms.
MingYang continues to grow its market footprints in the European offshore wind sector, most recently with a 30 MW offshore installation in Taranto, Italy, the first for the Mediterranean Sea and for any Chinese wind turbine OEM. Meanwhile, MingYang engages with local partners to develop floating wind solutions in Europe’s deep-sea regions. In support of these market efforts, MingYang has established a business and engineering center in Hamburg, Germany.
“Both the U.K. and China have seen unprecedented development in the offshore wind sector over the past five years and will foresee more market opportunities in terms of business model and technology innovations,” states Zhang Chuanwei, chairman of MingYang Smart Energy. “The agreement we are signing today marks a significant milestone in the two nations’ deep cooperation in the industry and also a solid step forward for MingYang to leverage its domestic offshore wind experience on these opportunities to create win-win results in the U.K.”
“MingYang’s intention to make the U.K. their European base could be a game-changer, both for MingYang and for the U.K.’s energy industry,” says Edwards. “If successful, this investment will create the U.K.’s first wind turbine assembly factory. That means that more of the offshore wind energy we use in the U.K. would be made in the U.K., creating more green jobs in one of our most exciting industries. We look forward to welcoming MingYang into the U.K.’s offshore wind industry.”