China Ming Yang Wind Power Group Limited (“Ming Yang” or the “Company”), a leading wind turbine manufacturer in China, today announced that it has signed a strategic cooperation agreement with Guangdong Yudean Group Co., Ltd. (“Yudean”) to foster off-shore wind power development in Guangdong province and to localize the production of multi-megawatt wind turbine generators (“WTG”). Yudean is the largest power generation company in Guangdong province.
According to the strategic cooperation agreement, Ming Yang will supply its 3MW, 5MW and 6MW Super Compact Drive (“SCD”) WTGs to Yudean’s off-shore wind power technology demonstration project in Xuwen, Zhanjiang. The demonstration project is expected to have a total power output of 200MW, and is located on the eastern coastal areas of Xinliao Island, Xuwen, Zhanjiang. Testing and evaluation for the off-shore wind resources and site selection have already been conducted.
Ming Yang has an established relationship with Yudean beginning with its Zhanjiang Yangqian wind project in 2007. That project was comprised of 33 units of MY 1.5s model WTGs (anti-typhoon WTGs with a rated power capacity of 1.5MW to withstand wind speed of up to 70m/s) and has been in operation for 4 years. Meanwhile, infrastructure work on the first off-shore EPC wind power project with a total output of 48MW is also underway, with WTG production on schedule. Ming Yang’s SCD WTG features advantages such as lighter weight, smaller size and lower maintenance, making it even more suitable for off-shore wind power development. By coupling with the integrated engineering and construction solutions offered by China Railway Major Bridge Engineering Group Co., Ltd., Ming Yang believes the EPC demonstration project will showcase the competitive advantages of its SCD WTG as part of a total solution for off-shore wind power.
“The eastern off-shore areas of Xinliao Island represent the typical operating conditions for our SCD WTGs,” said Chuanwei Zhang, Chairman and Chief Executive Officer of Ming Yang. “Ming Yang will spare no efforts in promoting the installation and comprehensive testing of its WTGs in off-shore wind projects. Guangdong province has abundant off-shore wind resources of up to 11GW in potential of total wind projects. By joining forces with Yudean, the largest power generation company in Guangdong province, we strive to promote our off-shore wind power development strategies to foster the large scale off-shore wind power development in Guangdong province, as well as the local production of multi-megawatt WTGs through our unique WTGs and geographical advantages.”
About China Ming Yang Wind Power Group Limited
China Ming Yang Wind Power Group Limited is a leading and fast-growing wind turbine manufacturer in China, focusing on designing, manufacturing, selling and servicing megawatt-class wind turbines. Ming Yang produces advanced, highly adaptable wind turbines with high energy output and low energy production costs and provides customers with comprehensive post-sales services. Ming Yang cooperates with aerodynEnergiesysteme, one of the world’s leading wind turbine design firms based in Germany, to develop wind turbines and share intellectual property rights. Ming Yang’s key customers include the five largest state-owned power producers in China, with an aggregate installed capacity accounting for more than 50% of China’s newly installed capacity in 2010. For further information, please visit the Company’s website: www.mywind.com.cn
Safe Harbor Statement
This press release contains forward-looking statements. These statements constitute “forward-looking” statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “target” and similar statements. Such statements are based upon management’s current expectations, results of and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond Ming Yang’s control, which may cause Ming Yang’s actual results, performance or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties or factors is included in Ming Yang’s filings with the U.S. Securities and Exchange Commission. Ming Yang does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.
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Source: prnewswire, November 15, 2011