Qingdao's offshore wind power sector has just scored another remarkable achievement.

On the morning of June 25th, the signing ceremony for the syndicated cooperation memorandum of the Huadian Qingdao Offshore Wind Power Project, under the theme "Green Ocean, Alliance for a New Journey," was successfully held. This event also doubled as the unveiling ceremony for Huadian (Qingdao) Marine Energy Development Co., Ltd. (hereinafter referred to as "Huadian Qingdao"), signaling that Qingdao's landmark multi-million-kilowatt deep-sea wind power project has officially stepped into a new phase of substantive progress.

From the perspective of the offshore wind power industry chain, both the Huadian Qingdao Offshore Wind Power Project and the ongoing Three Gorges Qingdao Offshore Wind Power Project fall under the development and construction segment of offshore wind power. These projects are characterized by substantial investment volumes and exert a strong clustering and driving effect on the industry chain:

The Huadian Qingdao Offshore Wind Power Project boasts a total investment of 30 billion yuan and a capacity of 2 million kilowatts.

The Three Gorges Qingdao Offshore Wind Power Project, on the other hand, has a total investment of 50 billion yuan and a capacity of 4 million kilowatts. Its Phase I involves an investment of 38 billion yuan and a capacity of 3 million kilowatts.

Amidst widespread investment pressures across the nation, offshore wind power holds immense significance for Qingdao in terms of attracting investment and fostering the clustered development of emerging industries.

In fact, besides the offshore wind power development projects by Huadian and Three Gorges, Qingdao has also secured major projects in the wind turbine and key component sectors, involving renowned companies such as Dongfang Electric, Shanghai Electric, Goldwind Science & Technology, and Mingyang Smart Energy.

Among these, the Dongfang Electric project, another central enterprise initiative, entails a total investment of several hundred billion yuan. It will establish the Dongfang Electric Northern Offshore Wind Power Equipment Manufacturing Base and the Dongfang Electric Northern Offshore Wind Power Research Center.

Goldwind Science & Technology hosted its inaugural Global Supplier Conference in the West Coast New Area in March of the previous year, forging a new energy equipment industry cooperation agreement with the Qingdao West Coast New Area. It also signed agreements with 14 local Qingdao enterprises to form a new energy industry alliance, bolstering the clustered development of Qingdao's new energy industry.

Meanwhile, offshore wind power development projects by Huaneng, Datang, and CSSC are also making steady progress.

With the successful landing of a series of major central enterprise projects, Qingdao needs to strategize on how to introduce more landmark projects in core component sectors with higher cost proportions and technical barriers, such as blades, main shaft bearings, and gearboxes. Simultaneously, it should accelerate the integration of local Qingdao power equipment and equipment manufacturing enterprises to drive industrial transformation.

1

Specifically, the Huadian Qingdao Offshore Wind Power Project adopts a "central-local cooperation" model, jointly developed by China Huadian Corporation and Qingdao Conson Development Group.

In September of the previous year, Qingdao Conson Development Group inked a strategic cooperation agreement with China Huadian Shandong Company, focusing on advancing the construction of the Jimo 2 million kilowatt (2GW) offshore wind power project. According to the plan, the project is expected to generate 6.1 billion kilowatt-hours of electricity annually upon completion. It will also develop new energy systems such as seawater hydrogen production, wave energy, and floating offshore photovoltaic power, as well as explore the construction of a composite marine ranching system that combines "artificial fish reefs, bottom sowing, and cages."

It is understood that Qingdao Conson Development Group, as the only municipal state-owned enterprise in Qingdao with the marine industry as its primary focus, has been actively venturing into marine equipment and marine new materials businesses in recent years, building on its strengths in deep-sea aquaculture and marine biopharmaceuticals. In late 2024, it established Qingdao Marine Development Group to further solidify its marine industry.

Therefore, the collaboration between Conson Development Group and Huadian Corporation in building the offshore wind power project undoubtedly facilitates better resource sharing and complementary strengths. It promotes the large-scale and clustered development of urban offshore wind power by strengthening local industry chain linkages and improving local supporting rates.

From the perspective of Huadian Qingdao's equity structure, the company was jointly established by "China Huadian Corporation + Conson Development Group + Local Qingdao Enterprises + Industry Chain Partners" as a secondary subsidiary of China Huadian Corporation.

Among them, Huadian New Energy Group Co., Ltd. is the largest shareholder, holding a 58% stake; Qingdao Marine Development Group Co., Ltd., under Conson Development Group, is the second-largest shareholder, holding 20%; HUADIAN NEW ENERGY GROUP INTERNATIONAL INVESTMENT COMPANY LIMITED, also part of the "Huadian Group" and registered in Hong Kong, is the third-largest shareholder, holding 10%.

In addition, Qingdao Hanhe Cable Co., Ltd., a leading marine cable company in Qingdao, and Shandong Yingtuo Power Equipment Co., Ltd., a power equipment enterprise, each hold a 5% stake; Shanghai Electric Wind Power Group Co., Ltd. holds a 2% stake.

It is noteworthy that, besides Huadian Qingdao, the shareholders of Three Gorges (Qingdao) Marine Development Co., Ltd., the construction party for the Three Gorges Qingdao Project, include, apart from two "Three Gorges Group" companies—China Three Gorges Corporation holding 51% and Yangtze River Three Gorges Investment Management Co., Ltd. holding 29%—also Qingdao state-owned Qingdao Energy Group, local Qingdao enterprises Hanhe Cable Co., Ltd. and Pangu Intelligence, as well as Shandong's leading private enterprise Xinf a Group.

It is evident that Qingdao has nurtured a number of local leading enterprises in the offshore wind power sector, endowing it with industrial competitiveness.

For instance, Hanhe Cable Co., Ltd. specializes in marine cable manufacturing and has developed dynamic marine cables suitable for deep-sea wind power, serving multiple key projects; Pangu Intelligence has launched a wind power hydraulic yaw system, providing stable and reliable power support for wind turbine units.

In addition, another listed company in Qingdao, Tenergy Heavy Industry, is focusing on offshore wind power as its main business, with products including large wind turbine towers, jackets, monopiles, and other equipment. It has established offshore wind power equipment manufacturing bases in Dalian, Dongying, Yancheng, and other locations.

Another noteworthy detail is that among Huadian Qingdao's shareholders, Yingtuo Power Equipment and Shanghai Electric Wind Power Group also maintain a cooperative relationship. The Shanghai Electric Wind Power Equipment Industrial Park project, established by Shanghai Electric Wind Power Group in Qingdao in 2020, was jointly invested in and constructed with Yingtuo Power Equipment. It is reported that the project primarily produces offshore wind power generation hosts, introducing core production technology from Germany's Siemens, and building an offshore wind power equipment industrial park that integrates high-end offshore wind power equipment manufacturing, a research and development center, and a headquarters.

It is reported that Huadian Shandong Company and Shanghai Electric Wind Power Group signed a strategic cooperation agreement in March of the previous year to jointly participate in the investment and construction of the Qingdao offshore wind power project. With Shanghai Electric Wind Power Group and Yingtuo Power Equipment becoming shareholders of Huadian Qingdao, it implies that the Shanghai Electric Wind Power Equipment Industrial Park may play a pivotal role and provide supporting services in the Huadian Qingdao Offshore Wind Power Project.

2

Besides the Huadian offshore wind power project, the Three Gorges Qingdao Offshore Wind Power Project is also accelerating its construction, with both the offshore and onshore transmission projects of Phase I having received approval.

According to the unified deployment of Shandong Province, Qingdao has newly selected five offshore wind farm sites with an installable capacity of 13 million kilowatts. Participating enterprises, in addition to Three Gorges and Huadian, include Huaneng, Datang, and CSSC, all of which have initiated site selection or project bidding.

In the offshore wind turbine manufacturing segment, the first phase of the Dongfang Electric (Qingdao) Offshore Wind Power Industrial Base has recently been completed.

In addition, CRRC Group established Qingdao CRRC Clean Energy Development Co., Ltd. in Qingdao in December 2025. Located in Tianheng, Jimo, the company's operational scope highly overlaps with the regions of multiple offshore wind power projects, including Dongfang Electric.

It is evident that central enterprises have actively participated in the entire chain of Qingdao's offshore wind power industry development, from development and construction to upstream component and turbine manufacturing, becoming the driving force behind Qingdao's green energy industry development.

In this process, the involvement of central enterprises in Qingdao's offshore wind power industry, such as CRRC and CSSC, which are engaged in rail transit and shipbuilding and marine engineering, respectively, also reflects that Qingdao's deepening cooperation with central enterprises, especially in their strategic emerging business sectors, has yielded significant results.

It is understood that CRRC Group has designated "clean energy equipment" as its second main responsibility and business, forming a "dual-track, dual-cluster" development pattern alongside rail transit equipment.

CSSC Group has established a strategic emerging business layout in electronic information, intelligent equipment, new energy and energy storage, new materials, energy conservation, and environmental protection.

In fact, according to an analysis by "Qingdao Journal" of the 179 major subsidiaries of 100 central enterprises controlled by the State-owned Assets Supervision and Administration Commission of the State Council in Qingdao (as of June 16, 2026), energy-related central enterprises constitute the majority. For example, China Datang Corporation, Power Construction Corporation of China, and China Huadian Corporation have 14, 13, and 7 major subsidiaries in Qingdao, respectively, ranking among the top ten in number.

Furthermore, from the perspective of Qingdao's "10+1" innovative industrial sectors, central enterprises related to the green energy industry also account for the majority among the 179 companies. For instance, Three Gorges (Qingdao) Marine Development Co., Ltd., established by Three Gorges Group in September of the previous year, and Qingdao CRRC Clean Energy Development Co., Ltd., established by CRRC Group in December of the previous year, are both secondary subsidiaries of central enterprises.

Considering the close integration of offshore wind power with Qingdao's marine industry and equipment manufacturing industry, the next step for Qingdao will be to further extend the industry chain, led by central enterprises, and encourage more local Qingdao power equipment and equipment manufacturing enterprises to participate in the development of the offshore wind power industry.

This is because many materials and component segments in the offshore wind power industry chain share commonalities with emerging industries such as new energy vehicles, humanoid robots, and the low-altitude economy. For example, bearing manufacturer Wuzhou Xinchun and motor and drive product manufacturer Wolong Electric Drive have already ventured into multiple fields, including offshore wind power, new energy vehicles, and humanoid robots. Carbon fiber material leader Zhongfu Shenying Carbon Fiber has been involved in wind power, the low-altitude economy, LCD, and other fields.

The value of central enterprise projects lies not only in their investment scale but also in their ability to reshape the city's industrial competitiveness. The offshore wind power industry is precisely the key "catalyst" for driving the transformation of Qingdao's traditional industries.