Mingyang Smart Energy Group Ltd has inked a localization cooperation agreement with South Korean sector player Unison Ltd to invest $299 million in constructing a wind turbine nacelle assembly plant and a blade manufacturing facility and developing wind farms.
The partnership is expected to create about 1,000 local jobs, which follows a cooperation memorandum signed by the parties in 2022.
South Korea aims to install 12 GW of offshore wind power to cut emissions to 40% of the 2018 levels by 2030.
Mingyang, a Chinese wind turbine manufacturer, said that the cooperation with Unison will let it enter the South Korean wind power market.
“I envision a mutually beneficial and win-win partnership where we can,” said
According to Mingyang chairman and chief executive Zhang Chuanwei, the partnership is mutually beneficial as it deepens their exchanges, leverages each other's strengths, explores innovative cooperation models, and achieves breakthroughs in both the Korean and global markets.
Unison chief executive Park Won-seo said the agreement will allow Unison to become a leading player in the Korean offshore wind power market by leveraging Mingyang's supply chain, offshore equipment, and installation capabilities.


Middle East War Rattles Global Markets as Oil Tops $100 and Dollar Surges
Asian Stocks Rebound as Trump Delays Iran Strike Deadline
The UK is surprisingly short of water – but more reservoirs aren’t the answer
Meta Ties Executive Pay to Aggressive Stock Price Targets in Major Retention Push
Google's TurboQuant Algorithm Sends Memory Chip Stocks Tumbling
Nanya Technology Shares Surge 10% After $2.5 Billion Private Placement from Sandisk and Cisco
Fertile land for growing vegetables is at risk — but a scientific discovery could turn the tide
Merck's $6 Billion Bid for Terns Pharma Signals Bold Oncology Push
How the war in Iran is already affecting UK farmers and food production
Extreme heat, flooding, wildfires – Colorado’s formerly incarcerated people on the hazards they faced behind bars
Novartis to Acquire Biotech Firm Excellergy in $2 Billion Deal
Oil Prices Slip as Trump Extends Iran Ceasefire Deadline Amid Ongoing War Fears
OpenAI Pulls the Plug on Sora, Ending $1 Billion Disney Partnership
Henkel in Advanced Talks to Acquire Olaplex at $2 Per Share
SK Hynix Eyes Up to $14 Billion U.S. IPO to Fund AI Chip Expansion 



