Mingyang Smart Energy (MYSE) on July 6 disclosed the revised version for its 2020 private shares issuing plan. The company plans to issue shares to no more than 35 specific private investors and raise up to 5.9 billion yuan.

According to the plan, the funds will be used for 9 projects, with a total investment of about 6.4 billion yuan.

Among them, the design and R&D project of a 10MW offshore wind turbine is to be implemented in Zhongshan, with a total investment of 725 million yuan. MYSE plans to spend more than 615 million yuan of the raised funds on the project.

The construction of the project will last for 36 months. It is planned to develop a new type of floating wind turbine that both meets the domestic marine environmental regulations and is economically friendly. The project is intended to build a exemplary application of offshore wind turbine technology that can resist typhoons.