Renexia has signed a memorandum of understanding (MoU) with MingYang and Italy’s Minister Adolfo Urso to launch a floating wind industrial chain.
The agreement includes an investment of €500m to establish a new company that will operate a production site for turbines for the Med Wind floating wind farm project in the Mediterranean Sea, off the coast of Trapani.
The factory will employ up to 1100 workers.
Renexia also presented the Environmental Impact Study for Med Wind after a series of environmental and economic feasibility studies that have lasted years and required significant investment.
“I would like to thank Minister Urso for trusting us and believing in our project,” said Renexia general manager Riccardo Toto.
He added: “The partnership signed today will enable us to create a value chain that also involves domestic companies, in floating offshore wind power industry, within our borders.
“In this way we will provide a valuable contribution to hit the goals of the National Integrated Energy and Climate Plan, and to support the Mattei Plan for Africa.”
Renexia chose MingYang because the Chinese Group is able to ensure delivery by the first half of 2026, the date set by design for the start of installations in the first section of Med Wind, located more than 80km off the coast.
The solution proposed by MingYang, with whom Renexia has already collaborated on the construction in Taranto offshore wind farm in the Mediterranean, is to use an 18.8MW turbine, reducing the original number of units from 190 to 148, based on 15MW machines in the original project.
This will reduce environmental impact and lower maintenance costs.
The new company, originally established by MingYang and Renexia, will be aimed at identifying a suitable area, in agreement with the government, within 90 days.
Employment is expected to be around 1100 resources, and the next step, thanks to the efforts of with the Italian Government’s Made in Italy effort will support the entry of new Italian players into the shareholding structure and foster investment, including those from international players.