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Ming Yang wind working with Reliance power to install 2.5 GW over 3 years with financing support from China Development Bank

China Ming Yang Wind Power Group Limited (NYSE: MY), a leading wind turbine manufacturer in China, reiterated recent statements by its Chairman and Chief Executive Officer, Chuanwei Zhang, that market prices of 1.5 megawatt (“MW”) and 2.0MW domestic wind turbine generators (“WTG”) are expected to increase up to as much as RMB4,000 per kilowatt (“KW”) this year, and that Ming Yang currently expects to deliver 2.5 gigawatts (“GW”) of WTGs in 2013, including domestic and overseas markets.

The Company stated that it is working with Reliance Power Limited of India with the aim to install 2.5GW of generation capacity over three years with financing support from China Development Bank Corp. Ming Yang expects to deliver 400MW of combined capacity in overseas markets in 2013 by providing engineering, procurement and construction (“EPC”) services as well as WTGs to customers in India and eastern Europe, out of which 300MW is expected to be with Reliance Power Limited.

“The market has been consolidating after a number of turbine manufacturers closed down or suspended production due to uncompetitive products,” said Mr. Zhang. “Developers are choosing products with higher power-generation capability and lower cost per kilowatt-hour rather than those with the cheapest prices. We aim to continue to expand our market share in both domestic and international markets by offering Ming Yang’s quality products and innovative total solutions such as EPC services.”

2 comments

  1. Do we have a map of India where the wind potential with land availability (with the latest guidelines on land acquisition), grid route map to check this feasbility? Or is this a gimmick to jack the stock prices now….. please ask MNRE and various state nodal agencies to identify the locations for projects related to renewable energy generation with new grid layout and also strengthening the existing layouts and then ask these companies to justify the numbers, otherwise like Reliance RPO money stock scam (rs. 475 went down to rs.70 and now around rs95) and we all like fools start believing such projections / tie up through news agencies….. how many more years, the large corporate sectors are going to fool through media…. why not media ask the back up papers to justify their statements of realisation of such ambitions…..let us cross verify the statements of Large corporate business plan, Indian government’s figures for the sake of real development with reality and not to be tool to play to stock market dynamics??

  2. Projevt exection of wind farm projects is the key. Reliance with its tight controls over projects and zero delegation of authority will be totally unsuccesful here where the project teams have to take on-the-spot decisions.

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