(Yicai Global) Nov. 18 -- Dajin Heavy Industry’s shares jumped after the world’s largest maker of wind turbine towers and structural products for offshore wind power projects said it plans to spend CNY7 billion (USD980 million) building an onshore wind farm and equipment processing plant in China’s Liaoning province.

Dajin Heavy [SHE: 002487] closed up 4.3 percent at CNY45.88 (USD6.43) a share, after leaping as much as 6.1 percent earlier in the day.

The Beijing-based company will join hands with the Qianshan district of Anshan to build a CNY6 billion onshore wind power plant project and a CNY1 billion wind power equipment processing plant in the northeastern city, it said today.

The Qianshan government will help Dajin coordinate with higher authorities, including the provincial government, to ensure that the wind farm is no less than 1,000 megawatts, it said. The plant will be mainly used to make towers and blades for wind turbines, Dajin added.

No details about construction timelines and annual plant capacity were disclosed. But Dajin did mention that the parties will need to sign agreements on the specific issues of the projects, which should be approved by regulators before being implemented.

Dajin, whose main business is the production of structural parts for wind power equipment, has expanded business into wind farms since 2020, aiming to build 2,000 megawatts of power generating capacity within three years, according to the firm’s website.

In the past three weeks, Daikin Heavy has received orders from three offshore wind power projects overseas worth about EUR196 million (USD203.4 million) in total. One EUR75 million (USD77.8 million) order was for the Dogger Bank, the world’s largest offshore wind farm located off the northeast coast of England.

Editor: Futura Costaglione