Recently, Mingyang Intelligent signed a localization cooperation agreement with South Korean wind turbine manufacturer and wind power company Unison Co., LTD. (hereinafter referred to as "Unison") in Zhongshan, Guangdong Province, and Mingyang Intelligent intends to invest 400 billion won (about 2 billion yuan) to strengthen the promotion of South Korea and global business.
Zhang Qiying, President and Chief Technology officer of Mingyang Intelligent, and Park Yuanxu, CEO of Unison, signed the agreement on behalf of both parties, and Zhang Chuanwei, chairman and CEO of Mingyang Intelligent, attended and witnessed the signing ceremony.
Zhang Chuanwei said at the signing ceremony: "Unison is the second largest local enterprise in the Korean wind power market, and Mingyang is the leading enterprise in the Chinese wind power market with excellent technical strength, and the signing of this agreement opens a new process of all-round cooperation between the two sides. It is hoped that the two sides can take mutual benefit as the fundamental goal, deepen exchanges, realize complementary advantages, explore a cooperation model that can make breakthroughs in the Korean and even the global market, and create a new situation for the international layout of the two sides."
Won-seo Park, CEO of Unison, said: "With this agreement, Unison is expected to become a leading player in the Korean offshore wind market with Myeongyang's outstanding supply chain, offshore equipment and installation capabilities. In addition, Myeongyang and Unison will strengthen technical cooperation with Korean wind turbine parts companies in the process of localization, and based on this, we will develop into an offshore wind power production base throughout East Asia."
The agreement is a concrete implementation plan for the signing of a memorandum of cooperation between the two sides in 2022. According to the agreement, Mingyang Intelligent will invest 400 billion won to carry out multi-faceted localization cooperation with Unison. Including the new fan engine room assembly plant, blade manufacturing plant, development and investment in onshore and offshore wind farms. The series of partnerships is expected to create about 1,000 local jobs.
In recent years, the South Korean government has vigorously promoted the development of renewable energy, especially offshore wind power. According to Korean media reports, in order to achieve the goal of reducing greenhouse emissions by 40% to 2018 levels by 2030, South Korea plans to add 12GW of offshore wind power. In this context, the establishment of localization cooperation with South Korea Unison will help Mingyang Intelligent enter the Korean wind power market under the requirements of Korean wind power localization, and accelerate the realization of excellent technology and product promotion.
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