Renexia, Mingyang ink pact for EUR-500m wind turbine factory in Italy

Italian renewables group Renexia and China’s Mingyang Smart Energy Group Ltd (SHA:601615) have signed an agreement to set up a wind turbine factory in Italy, envisaging an investment of some EUR 500 million (USD 546m).

The parties, along with Italy's industry ministry, have sealed a Memorandum of Understanding (MoU) outlining the plan, Renexia’s parent Toto Group said on Thursday without providing details about the cost-sharing structure. The initiative will be realised through a newly-set up company by Ming Yang and Renexia.

The proposed wind manufacturing facility will be installed at an unspecified location in Italy and will produce turbines for Renexia’s Med Wind floating offshore wind project in the Mediterranean Sea, off the coast of Trapani. The up to 2.9-GW complex will be equipped with up to 148 of Mingyang’s 18.8 MW turbines, which the Chinese company has committed to deliver by the first half of 2026.

Over the next 90 days, the partners will pick a suitable site for the plant, which is expected to employ up to 1,100 workers.

"The partnership signed today will enable us to create a value chain that also involves domestic companies, in floating offshore wind power industry, within our borders,” said Riccardo Toto, general manager at Renexia.

(EUR 1.0 = USD 1.092)

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