Reports related to this article:
Project(s): View 3 related projects in PECWeb
en
Written by Martin Lynch, European News Editor for Industrial Info (Galway, Ireland)--A deal to establish a wind turbine factory in Italy has been signed by China's Mingyang Smart Energy Group, the government and Italian renewables group Renexia (Chieti, Italy).
The memorandum of understanding (MoU) was signed with Minister of Enterprises and Made in Italy (Mimit) Adolfo Urso and will involve an investment of approximately 500 million euros (US$546 million) and the creation of 1,100 jobs. The location of the site will be identified, in agreement with the government, within 90 days. "This important agreement allows us to develop the production of turbines in Italy and a national supply chain that will be extremely competitive," Urso said. "The agreement fully responds to the intentions that our two ministries and our governments intend to carry forward for the development of partnerships in green technology." Mingyang is the fifth-largest turbine maker in the world based on 2023 sales data from market watcher Wood Mackenzie (Edinburgh, Scotland).
The proposed wind turbine plant initially will produce turbines for Renexia's Med Wind floating offshore wind project in the Mediterranean Sea, located off the coast of Trapani. The project, which will have a capacity of up to 2.8 gigawatts (GW), will use up to 148 of Mingyang's 18.8 megawatt (MW) turbines. These will be delivered by the first half of 2026. Riccardo Toto, general manager at Renexia, said: "The partnership signed today will enable us to create a value chain that also involves domestic companies, in the floating offshore wind power industry, within our borders." The companies have worked together before on the much smaller 30-MW Beleolico nearshore windfarm in 2022, which became the first European offshore windfarm using turbines from a Chinese manufacturer.
This year has seen a small but growing number of European wind projects turning to Chinese-made wind turbines. It comes at a time when the European Commission (EC) is investigating suspected illegal subsidies provided to Chinese wind turbine makers by its government. Europe is determined to head off the possibility of its wind industry being decimated like its homegrown solar industry was over the past decade by cheap, subsidized Chinese panels. For additional information, see April 23, 2024, article - Europe To Investigate 'Cheap' Chinese Windfarm Projects.
This is the second green energy-related manufacturing deal brokered by the Italian government in recent weeks. Milan-based Bee Solar (Milan) and Chinese solar panel manufacturer Huasun (Nanjing, China) signed a memorandum of understanding (MoU) to set up a photovoltaic production hub in Italy utilizing Huasun's technology and experience. Minister Urso commented: "This partnership fully responds to the objective that our countries intend to achieve in the field of green technologies. It is a strategic project, to develop the photovoltaic supply chain in Italy."
The deals come just weeks after Italian Prime Minister Giorgia Meloni visited China to boost cooperation and reset trade relations after leaving China's Belt and Road infrastructure (BRI) investment scheme at the end of last year. The BRI is China's most ambitious trade and infrastructure project, launched in 2013 with the goal of boosting China's international influence by spending US$1 trillion across Asia and Europe through investment in key projects including energy, digital infrastructure and the massive expansion and upgrading of roads, railways and ports that connect China to Europe. Italy was the only major European nation to sign up to the scheme in 2019, a move highly criticized by many European Union (EU) Member states and the U.S.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
The memorandum of understanding (MoU) was signed with Minister of Enterprises and Made in Italy (Mimit) Adolfo Urso and will involve an investment of approximately 500 million euros (US$546 million) and the creation of 1,100 jobs. The location of the site will be identified, in agreement with the government, within 90 days. "This important agreement allows us to develop the production of turbines in Italy and a national supply chain that will be extremely competitive," Urso said. "The agreement fully responds to the intentions that our two ministries and our governments intend to carry forward for the development of partnerships in green technology." Mingyang is the fifth-largest turbine maker in the world based on 2023 sales data from market watcher Wood Mackenzie (Edinburgh, Scotland).
The proposed wind turbine plant initially will produce turbines for Renexia's Med Wind floating offshore wind project in the Mediterranean Sea, located off the coast of Trapani. The project, which will have a capacity of up to 2.8 gigawatts (GW), will use up to 148 of Mingyang's 18.8 megawatt (MW) turbines. These will be delivered by the first half of 2026. Riccardo Toto, general manager at Renexia, said: "The partnership signed today will enable us to create a value chain that also involves domestic companies, in the floating offshore wind power industry, within our borders." The companies have worked together before on the much smaller 30-MW Beleolico nearshore windfarm in 2022, which became the first European offshore windfarm using turbines from a Chinese manufacturer.
This year has seen a small but growing number of European wind projects turning to Chinese-made wind turbines. It comes at a time when the European Commission (EC) is investigating suspected illegal subsidies provided to Chinese wind turbine makers by its government. Europe is determined to head off the possibility of its wind industry being decimated like its homegrown solar industry was over the past decade by cheap, subsidized Chinese panels. For additional information, see April 23, 2024, article - Europe To Investigate 'Cheap' Chinese Windfarm Projects.
This is the second green energy-related manufacturing deal brokered by the Italian government in recent weeks. Milan-based Bee Solar (Milan) and Chinese solar panel manufacturer Huasun (Nanjing, China) signed a memorandum of understanding (MoU) to set up a photovoltaic production hub in Italy utilizing Huasun's technology and experience. Minister Urso commented: "This partnership fully responds to the objective that our countries intend to achieve in the field of green technologies. It is a strategic project, to develop the photovoltaic supply chain in Italy."
The deals come just weeks after Italian Prime Minister Giorgia Meloni visited China to boost cooperation and reset trade relations after leaving China's Belt and Road infrastructure (BRI) investment scheme at the end of last year. The BRI is China's most ambitious trade and infrastructure project, launched in 2013 with the goal of boosting China's international influence by spending US$1 trillion across Asia and Europe through investment in key projects including energy, digital infrastructure and the massive expansion and upgrading of roads, railways and ports that connect China to Europe. Italy was the only major European nation to sign up to the scheme in 2019, a move highly criticized by many European Union (EU) Member states and the U.S.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
