en.Wedoany.com Reported - Mingyang Smart Energy announced on July 17 that it plans to invest approximately RMB 281 million in its associate company CNOOC (Dongfang) Energy Co., Ltd. (hereinafter referred to as "CNOOC Dongfang"). After the capital increase, the shareholding ratios of both parties will remain unchanged.
According to the announcement, the capital increase proposal was approved at the 34th meeting of the third board of directors held on July 15. The registered capital of the project company CNOOC Dongfang is planned to increase from RMB 1 billion to approximately RMB 1.625 billion. Mingyang Smart Energy and CNOOC (Hainan) New Energy Co., Ltd. (hereinafter referred to as "CNOOC Hainan") will increase capital in proportion to their original shareholdings, with Mingyang Smart Energy contributing approximately RMB 281 million and CNOOC Hainan contributing approximately RMB 344 million. After the capital increase, Mingyang Smart Energy will hold 45% of the shares, and CNOOC Hainan will hold 55%.
In September 2025, Mingyang Smart Energy and CNOOC Hainan jointly established CNOOC Dongfang to develop and implement the Hainan Dongfang Offshore Wind Power Demonstration Project. The project has a total planned installed capacity of 3 GW, comprising two sites, CZ7 and CZ9, each with a capacity of 1.5 GW. The project aims to explore offshore wind power design and construction technologies under conditions such as deep water, offshore distance, underlying bedrock, and frequent typhoons, tailored to the characteristics of the sea area in Hainan Province, and to promote the localization of large-capacity offshore wind power equipment.
Mingyang Smart Energy expects to sell wind turbine equipment to CNOOC Dongfang in 2026. The CZ7 site is located in the waters west of Hainan Province. The first phase has an installed capacity of 600 MW, with 60 wind turbines of 10 MW each. The site center is approximately 29 km from the shore, covering an area of about 60 km², with water depths ranging from 13.9 m to 43.3 m, and turbine foundation depths between 20 m and 40 m. The project will construct a new 220 kV offshore substation and an onshore control center. The offshore wind turbines for this phase were won by Mingyang Smart Energy with a bid price of RMB 1.906 billion. The CZ9 site is located in the waters west of Dongfang and Ledong, with a total installed capacity of 1,500 MW, to be built in two phases. It is planned as a three-dimensional marine energy innovation development demonstration project integrating "offshore wind power + marine ranching + seawater hydrogen production."
Mingyang Smart Energy also noted in the announcement that the implementation process of offshore wind farm projects is relatively complex and the construction period is long, advising investors to be aware of investment risks.
