Mingyang Smart Energy and Unison have signed a localisation cooperation agreement to expand their business in South Korea and beyond.
Under the agreement, Mingyang will invest Krw400bn (€274m) to establish a wind turbine nacelle assembly plant, a blade manufacturing plant, as well as develop onshore and offshore wind farms.
This cooperation is expected to create approximately one thousand local jobs.
Zhang Chuanwei, Mingyang Smart Energy’s Chairman and CEO, said: “Unison is a well-established local enterprise and top player in the Korean wind power market.
“On the other hand, Mingyang is a top Chinese wind power company with exceptional technical expertise.
“This agreement marks the start of a new phase of comprehensive collaboration between the two companies.
“I envision a mutually beneficial and win-win partnership where we can deepen our exchanges, leverage each other’s strengths, explore innovative cooperation models, and achieve breakthroughs in both the Korean and global markets.
“Together, we can create a new landscape for international expansion.”