Mingyang Group, a leading enterprise in the global new energy equipment sector, signed a cooperation agreement with the Baotou municipal people's government to establish a wind power equipment industrial base.

According to the agreement, Mingyang Group will localize 90 percent of Baotou's wind power equipment supply chain within three years, achieving an output value of 50 billion yuan ($6.91 billion).

Baotou is located in North China's Inner Mongolia autonomous region. Inner Mongolia is a critical energy hub in China as it harbors over half of the nation's wind energy resources and more than one-fifth of its solar energy resources. The region's technical capacity for wind and solar energy reaches 1.08 billion kilowatts annually, which is four times the current total installed power generation capacity in China.

Currently, Inner Mongolia is vigorously implementing its renewable energy expansion plan, with a goal to add 40 million kilowatts of new energy installations this year alone, including 25 million kilowatts of wind power. This highlights the expansive market and tremendous potential for the wind power equipment sector.

The establishment of a wind power equipment industrial base in Baotou is pivotal in enhancing Inner Mongolia's competitiveness in the national and global wind power equipment manufacturing industry.

Baotou's wind power equipment manufacturing sector has experienced rapid development in recent years, and is now home to 16 wind power equipment enterprises. It has emerged as the largest wind power equipment manufacturing hub in the northwest region of China. The industrial cluster in Baotou is increasingly comprehensive, with a current wind turbine manufacturing capacity of 1,200 units.