Dajin Heavy Industry, a Chinese supplier of structural components for offshore wind projects, said it secured a CNY430 million (USD59.9 million) order from a European offshore wind farm, its third such deal since the start of the year.
Dajin Heavy's factory in Penglai, China's eastern Shandong province, will produce ultra-large monopiles and supply them to a European energy company at a designated location, the Beijing-based firm announced late yesterday. Deliveries will be completed by the end of next year.
Dajin Heavy has engaged in similar transactions with the customer over the past three years, it said, without disclosing the name of the client. The value of the latest order equals around 11.4 percent of the firm's audited revenue for last year, it pointed out.
Since Dajin Heavy completed its first offshore wind farm structural parts delivery using its delivered at place model last year, it has set up a one-stop service chain for European clients that integrates manufacturing, shipping, and delivery, positioning it as a key supplier for local offshore wind farm projects.
Dajin Heavy bagged a USD135 million order for ultra-large monopiles from a European developer of offshore wind projects in March and a CNY1 billion (USD139 million) order for the same products from a leading energy company in Europe in May.
Since 2022, Dajin Heavy has received numerous orders from European customers. It shipped nearly 110,000 tons of offshore wind farm gear to the United Kingdom, France, Denmark, Germany, and others last year, with overseas markets accounting for around 46 percent of its CNY3.7 billion (USD513 million) of income, according to its annual earnings report.
Dajin Heavy's Penglai plant is the only facility in the Asia-Pacific region that can mass-produce ultra-large monopiles for the European market. It is also the largest monopile factory in the area.
Shares of Dajin Heavy [SHE: 002487] climbed 0.8 percent to CNY32.32 (USD4.50) apiece as of lunch break in Shenzhen today, after earlier rising by as much as 2.7 percent.
