(Yicai) May 15 -- Shares in Dajin Heavy Industry climbed today after China’s leading manufacturer of offshore wind turbine foundations said it has secured a CNY1 billion (USD140 million) order from a European offshore wind project, its second major deal in two months.

Dajin’s share price [SHE: 002487] advanced 0.9 percent to CNY28.70 (USD4) as of 2 p.m. today. Earlier in the day it rose 2.7 percent to hit CNY29.20.

Dajin’s factory in Penglai, eastern Shandong province, will construct ultra-large monopiles, which are giant steel foundations for offshore wind turbines, for a leading energy company in Europe, the Fuxin-based company said yesterday. The parts will be delivered directly to the customer’s designated location and all deliveries are expected to be completed by the end of 2027.

The value of the order amounts to 26.5 percent of Dajin’s audited revenue for the fiscal year 2024, it said. It is the second major order for giant offshore wind turbine monopiles that the firm has received from a European client in less than two months, following a USD135 million deal with another company in March.

Dajin didn’t name the client, but said that it is a leading global energy firm and that this is the first deal between the two sides in the past three years. No other details were given, including the supply quantity.

The company introduced a ‘Delivery at Place’ service, which includes manufacturing, shipping and delivery, for its customers in 2024 and this has helped it become a key supplier to European offshore wind farm developers, it said.

Dajin has received numerous orders from European clients since 2022. Last year, Dajin shipped nearly 110,000 tons of offshore wind farm equipment to countries such as the UK, France, Denmark and Germany. Around 45.8 percent of its total revenue of CNY3.7 billion (USD513 million) last year came from overseas markets, according to its annual report.

Dajin’s Penglai factory is currently the only facility in the Asia-Pacific region that can mass produce super-large offshore wind farm monopiles for the European market. It’s also the largest monopile manufacturing base in the region.

Editor: Kim Taylor