Underwriting the export of offshore wind power equipment to Taranto, Italy

The project is located in the port of Taranto, Pulia, Italy, with a total installed capacity of 30 MW, equipped with 10 Mingyang smart 3.0 MW offshore wind turbines. This project broke several records: it marks the first Chinese offshore wind turbines ever entered the European market, the first commercial offshore wind power project in Mediterranean, and the first offshore wind power project in Italy. SINOSURE underwrote the risk that the upfront payment to Mingyang Smart Energy Group Co., Ltd. under the project is unjustifiably recovered by the buyer, the risk of loss of cost input and the risk of loss of accounts receivable with specific contract insurance.