Mingyang Smart Energy could add “welcome” new competition to a global offshore wind turbine industry currently dominated by three players, think-tank the Institute for Energy Economics & Financial Analysis (IEEFA) said in a new report.

“The offshore wind turbine industry has traditionally split between China and the rest of the world, with different players in each,” IEEFA energy finance analyst Norman Waite said in Chinese Offshore Wind Goes Global.

“However, China’s Mingyang Smart Energy appears poised to disrupt international, non-Chinese markets at a vulnerable time for established competitors.”