OWA Daily News | Myeongyang has another breakthrough in Korea!

Recently, Mingyang Intelligent announced that it has signed a joint venture agreement with South Korean wind turbine manufacturer Unison, and plans to produce wind turbines in South Korea. This cooperation marks another important breakthrough for Mingyang Intelligent in the Korean market, which will provide local high-performance wind power equipment to help achieve carbon neutrality in Korea and the surrounding region.

Mingyang Intelligence said the partnership would bring "first-class products and services" to inject new momentum into South Korea's rapidly growing wind power market. Last year, Mingyang Intelligence, through its cooperation with Unison, successfully secured the first order from a Chinese wind turbine manufacturer in South Korea, supplying 13 6.5 MW offshore wind turbines with a total installed capacity of 80 MW to the Aphae wind farm in southwest South Korea.

Mingyang Intelligent signed an agreement with South Korea Unison scene picture from Mingyang Intelligent

The South Korean government has set a goal of increasing offshore wind capacity to 27 gigawatts by 2036, a plan that offers broad development opportunities for global wind equipment manufacturers.

The joint venture agreement with Unison is the latest step in a number of important recent developments in the global wind power sector. As early as May 2023, Mingyang Intelligent signed a localization cooperation agreement with Unison in Zhongshan, Guangdong Province, and intends to invest 400 billion won (about 2 billion yuan) to strengthen the promotion of South Korea and global business.

Last month, Mingyang signed an agreement with Italy to build a wind turbine factory in the country, which plans to produce 18.8 MW of floating wind turbines to supply a 2.8 GW floating wind project near Sicily, marking a major breakthrough in the European market for Mingyang.

In addition, the company entered into a deal with Companhia Paranaense de Energia (Copel), a major Brazilian utility company, to install its first wind turbine in Latin America, further expanding its global market presence.