Dajin Heavy Industry, a wind towers and offshore foundations global supplier, announced on March 23 that its wholly-owned subsidiary Penglai Dajin Offshore Heavy Industry (Penglai Dajin) has signed a “Monopile Foundation Manufacturing, Supply and Transportation Contract” with a European energy company.
Under the contract, Penglai Dajin will provide ultra-large monopile products for a European offshore wind power project. The total contract amount is approximately US$135 million (approximately RMB 986 million), accounting for approximately 22.80% of the company’s audited operating income in 2023.
According to Dajin Heavy Industries, after two years of high-quality delivery of export offshore orders in 2023 and 2024, the company has become one of the few offshore companies in the world with “end-to-end” delivery capability. Currently, the company holds a leading supplier position in the European market, with an expanding range of cooperative clients, project numbers, and product delivery regions. The delivery model has leapfrogged to the DAP mode (Delivered at Place). The signing and execution of this contract are expected to have a positive impact on the company’s future operating performance.
Dajin Heavy Industry is mainly specialized in the production and sales of wind power equipment products, new energy investment development, construction and operation business. In the wind power equipment manufacturing sector, the company mainly produces and sells wind power products such as wind turbine towers, monopiles, jacket foundations, floating foundations, and transition pieces. The company is currently the only supplier in the Asia-Pacific region capable of delivering offshore wind foundation structures in bulk to Europe.
Since the batch delivery of offshore products to Europe in 2023, Dajin Heavy Industry has been expanding the content of its cooperation with overseas customers, and the added value of the products and services it provides has been gradually improved. since 2024, Dajin Heavy Industry has produced and shipped a number of offshore projects in Europe, covering a wide range of offshore foundation products, and the standard of construction has been further improved. In the coming years, the company will continue to expand its share in the overseas market, while gradually transitioning its delivery model from FOB (Free On Board) to DAP.
It is worth mentioning that in May 2023, Penglai Dajin signed a supply contract with RWE for the Thor Offshore Wind Farm project in Denmark. Penglai Dajin will construct and deliver 36 TP-less (transition piece-less) monopiles for the project and be responsible for transporting all monopile products to the customer’s designated location. The wind farm is located in the North Sea of Denmark, with a total installed capacity of 1 GW. Once completed, the project will be able to supply green electricity to over 1 million Danish households, making it the largest offshore wind farm in Denmark to date.
It is worth mentioning that Penglai Dajin has signed a supply contract with RWE in May 2023 for the Thor offshore wind farm project in Denmark, for which Penglai Dajin will build and deliver 36 TP-less (Transitionless) monopiles and be responsible for the transportation of all the monopiles to the customer’s designated location. The wind farm is located in the Danish North Sea, with a total installed capacity of 1GW. After the completion of the project, it will be able to supply green power to more than 1 million Danish households, which is the largest offshore wind farm in Denmark so far.