Penglai plans to build a wind power hub in northern China due to its industrial foundation and superior location, officials announced at an offshore wind power seminar in Yantai on May 14.

The wind power industrial park in Penglai district of Yantai will focus on the R&D, manufacturing and operation of wind power equipment. It aims to promote the integrated development of marine ranches, tidal energy, hydrogen energy and stored energy.

In recent years, Penglai has cultivated a batch of key companies for wind turbine blades, marine engineering modules, and other related power utilization fields, which have laid a strong foundation for the development of wind power.

Officials said that the annual output value of the industrial park is expected to exceed 50 billion yuan ($7.77 billion) by the end of the 14th Five-Year Plan period (2021-25).Penglai will work to form the first whole industrial chain of wind power equipment manufacturing in China by July.