Mingyang Group is weighing investments in Philippine ports, floating platforms and wind turbine manufacturing as it looks to turn the country from an equipment market into a potential offshore wind production base.
The Chinese clean energy company outlined the plan during a meeting with Finance Undersecretary Ma. Angela Ignacio and Board of Investments Executive Director Bobby Fondevilla, the Department of Finance said.
The proposed investments would expand Mingyang’s Philippine operations beyond supplying equipment to building manufacturing and infrastructure capacity for offshore wind projects.
The move could deepen local supply chains and create jobs while giving the Philippines a larger role in an industry expected to require heavy spending on specialized equipment, ports and transmission infrastructure.
The DOF did not disclose the potential investment amount, locations, production capacity or timetable. No investment agreement was announced.
Mingyang Chairman Zhang Chuanwei led the delegation, which included chairman’s office head Wang Zhanju, Asia Pacific president Liu Wenhao and Philippine general manager Bian Tiezhan.
Mingyang, based in Zhongshan, China, manufactures wind turbines and develops renewable energy projects, alongside providing engineering services.
Its manufacturing ambitions come as the Philippines seeks to tap its large offshore wind resource, much of which is in waters too deep for conventional fixed-bottom turbines.
The World Bank’s 2022 offshore wind roadmap estimated the Philippines has 178 gigawatts of technical offshore wind potential, with about 90 percent located in waters deeper than 50 meters, where floating technology would be needed.
That makes local production of floating platforms and related components potentially important to the industry’s development.
The World Bank has identified ports and transmission infrastructure as key requirements for unlocking the resource. The OECD has also said developing local manufacturing capacity for floating wind components could help lower costs and give the Philippines a foothold in the regional supply chain.
The proposed investments would mark a shift in Mingyang business in the Philippines from selling turbines toward building the capacity to manufacture and support offshore wind projects locally.
