China’s MingYang Smart Energy has agreed to sell a minority stake in a special purpose company developing a 300 MW offshore wind project to Poly Changda Engineering.
Once the transaction is completed, Poly Changda Engineering will hold a 49 per cent stake in Yangjiang Mingyang Offshore Wind Power Development, with MingYang controlling the remaining 51 per cent stake.
The special purpose company is developing the MingYang Yangjiang Shapa 300MW Demonstration Project. Poly Changda Engineering is also the general contractor on the project.
Located offshore Guangdong Province in the South China Sea, the wind farm will feature 47 MySE6.45-180 wind turbines.
The project spans across an area of 48 square kilometres with water depths ranging between 27 and 32 metres.
The first monopile foundation was installed at the site mid-April.
The wind farm is scheduled to be commissioned in October 2021, MingYang said. The project is valued at around USD 837 million.