Chinese wind turbine manufacturer MingYang Smart Energy has revealed plans to develop a 10 MW typhoon-resistant floating wind turbine.
MingYang will invest around CNY 725 million (EUR 94 million) in the project, some CNY 616 million of which will come through a private placement of A shares.
The project will have a duration of 36 months and will be carried out at MingYang’s existing business site in Zhongshan City, Guangdong Province.
Back in December 2019, MingYang rolled out the first nacelle of the MySE8-10MW typhoon-resistant offshore wind turbine.
MingYang will also use a portion of the proceeds from the private placement to build an offshore wind turbine manufacturing base in Shanwei city.
The project is valued at CNY 2.5 billion, CNY 1.63 billion of which will be financed through the private placement.