China’s Mingyang and the world’s largest chemicals producer, German BASF, created a joint venture in July 2023 to build and operate a 500 MW offshore wind farm in China.
Mingyang is the majority shareholder with a 90 per cent stake in the joint venture, called Mingyang BASF New Energy (Zhanjiang), while BASF holds 10 per cent of the shares.
The 500 MW Xuwen Dongsan Offshore Wind Power Demonstration Project is said to become a cornerstone in supplying green power to BASF’s integrated base in Zhanjiang, supporting its transformation into a global benchmark for the green, low-carbon, and sustainable chemical industry.
The integrated Verbund site will be the company’s third-largest worldwide and will see BASF investing up to EUR 10 billion to complete all of its phases by 2030.
The construction of the offshore wind project is scheduled to commence in 2024. The 500 MW wind farm is planned to be connected to the grid by the end of 2025.
In terms of other news coming from BASF, the company recently agreed to acquire 49 per cent of Vattenfall’s Nordlicht 1 and 2 wind farms in the German North Sea.
When it comes to Mingyang, the Chinese company rolled out the world’s largest offshore wind turbine in capacity and rotor diameter at the end of last year, the MySE 18.X-20 MW.
