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China's SPIC links with Ming Yang for offshore wind

State Power Investment Corp (SPIC) – one of China’s largest energy groups – has signed a co-operation pact with turbine OEM Ming Yang to work together in the offshore wind sector.

SPIC and Ming Yang agreed to jointly advance offshore wind development off Guangdong province in China’s southeast, said a statement.

The partners aim to “provide equipment and services of high quality and reliability, and meet investors’ needs in aspects of security, reliability, economy as well as guarantee level and capability of life cycle”.

The strategic co-operation pact also envisages “international market development of offshore wind turbines”.

Ming Yang was the number-nine global onshore wind supplier by installations in 2016 and number three in China, according to figures from Bloomberg New Energy Finance.

East needs West in China's offshore wind sector

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But the group’s offshore wind plans have stuttered, with apparent slow progress for its plans to launch a unique two-bladed 6.5MW machine. Formerly listed in New York, Ming Yang was taken back into private ownership last year after its purchase by a consortium led by CEO Chuanwei Zhang.

SPIC was formed in 2015 through the merger of China power Investment Corporation and State Nuclear Power Technology Corporation. It is one of the country’s top five power generators, according to its website.

The group said offshore wind is “one of its business development keys domestically”.

China’s offshore wind sector is seen as finally gathering momentum after years of false starts, as the nation chases a 5GW 2020 capacity goal under its latest five-year plan.

China added 593MW of offshore wind in 2016, taking the cumulative total to 1.63GW and the country into third spot as the global sector’s number-three, behind the UK and Germany.

Almost all the turbines added were from Shanghai Electric, which licensed offshore wind technology from Siemens in 2015.

 

Chinese onshore behemoth Goldwind has also signalled plans to serve the offshore market.