(Yicai Global) April 19 -- Chinese wind power solutions provider Fujian Yongfu Power Engineering is linking arms with Dutch marine engineering firm Maridea to develop floating offshore wind technology, that allows wind power generation in deep-sea areas where it is not possible to attach turbines to the seabed.

The two parties will collaborate on finding solutions for the low-cost, large-scale construction of deep-sea floating wind turbines that are suitable for China’s open ocean conditions, the Fuzhou, southeastern Fujian province-based firm said on its WeChat account yesterday. Most offshore wind power stations use fixed offshore turbines at present.

Yongfu Power has offered its technical know-how and services to over 5,500 megawatts of offshore wind power projects to-date. Delft-based Maridea has a wealth of experience in marine engineering, including developing floating and fixed wind turbine foundations.

Yongfu Power has also teamed up with Dutch offshore contractor SPT Offshore to develop technologies for suction pile jackets. The technology was applied to the Changle deep-sea wind power project, halving the construction time and saving Yongfu Power nearly CNY1 billion (USD145.4 million).

Yongfu Power is predicting net profit to more than double in 2022 from the year before to CNY90 million (USD13.1 million). In the first half last year, Yongfu Power’s revenue from the provision of professional technologies and services accounted for 99.9 percent of its total income.

Unmoved by the news, Yongfu Power’s share price [SHE:300712] was trading down 2 percent at CNY39.07 (USD5.68) as of 12.45 p.m. China time.

Editor: Kim Taylor