China Ming Yang Wind Power Group Limited (Ming Yang; MY), a leading wind turbine manufacturer in China, today announced that it has signed a cooperative agreement with Huaneng Renewables Corporation Limited (Huaneng Renewables), contemplating the establishment of a joint venture specializing in the development of wind power and solar projects in China and overseas markets. Under the agreement, the joint venture in contemplation will be controlled by Huaneng Renewables.
“We are glad to expand our partnership with Huaneng Renewables through the Agreement to form the Joint Venture,” said Chuanwei Zhang , Chairman and Chief Executive Officer of Ming Yang . “Huaneng Renewables is an established wind energy generator with a strong track record in wind farm development and operation in China. Partnering with Huaneng Renewables represents an important strategic development for Ming Yang and we look forward to the establishment of this Joint Venture as a pioneer in the industry to jointly develop quality wind farm projects in China.”
Gang Lin , Executive Director and President of Huaneng Renewables , said: “We are delighted about this cooperation. Ming Yangis a leading manufacturer in the wind industry, and has secured an abundance of prime wind resources in China. This cooperation will be of great importance for Huaneng Renewables’ acceleration of strategic development in the wind power industry.”
[mappress]
Offshore WIND staff, July 11, 2012; Image: Ming Yang