Ningde Times, China’s top battery manufacturer, has established Fujian Runshi Offshore Wind Power (also known as Runshi Haifeng) to enter the offshore wind energy market and take advantage of energy storage opportunities. This move signals Ningde’s plan to expand into the offshore wind energy industry, with a focus on energy storage to support the development of offshore wind power. Huang Shilin, the former vice-chairman of Ningde Times, believes that replacing oil and gas with clean energy and electric machinery are two ways to achieve peak carbon and carbon neutrality at the energy production and consumption ends.
New energy power generation, coupled with allocation and storage, will be the mainstream model for the industry’s future. Therefore, many provinces and cities in China have introduced new energy mandatory allocation and storage policies. To that end, Ningde Times will focus on energy storage, building on its existing relationship with Mingyang Intelligent, a leading wind energy machine supplier. Mingyang Intelligent won the bid for 2516MW in the offshore wind energy machine market in 2022.
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The establishment of Runshi Haifeng means that CATL, Ningde Times’ subsidiary, will become an offshore wind energy project developer and owner. China has abundant offshore wind energy resources concentrated in its central, eastern, and southern regions of energy load, with a coastline of more than 18,000km and 3 million square kilometers of usable sea area. China’s cumulative installed capacity of offshore wind power surpassed that of the UK in 2021, and in 2022, China’s new offshore wind energy capacity will account for approximately 54% of the world’s total.
The offshore wind energy industry is expected to stabilize in the next few years, allowing for technological development and breakthroughs, cost reduction, efficiency enhancement, deep-sea technology breakthroughs, and further exploration of the fusion model of sea breeze hydrogen production, marine ranching, and energy storage.