China Ming Yang Wind Power (MY) Signs Cooperation Intention For 200MW Offshore Wind Project

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09:27:00 am on November 24, 2010

China Ming Yang Wind Power (MY) has announced that it signed a cooperation intention agreement with a leading China-based independent power producer for up to 200MW of wind turbines for an offshore wind project in  Beibu Gulf area of China.  Should the project get off the ground, MY would provide 2.5 and 3MW wind turbines while the other (unnamed) company would be the developer.  Construction could begin next year.

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“We believe this agreement demonstrates the value of our having been selected as a qualified turbine manufacturer in the 1GW Offshore Wind Farm Concession,” commented Mr. Chuanwei Zhang, Chairman and CEO of Ming Yang. “This is a great opportunity for Ming Yang and a real endorsement of our SCD technology and the cost efficiencies it brings. We strongly believe that we are a technology leader in China’s wind power equipment industry and are well-positioned to capture a greater share of the wind power market in China.”  

Shares of MY are up a couple percent ahead of the bell, but still remain in correction mode.  Once the base is complete, MY is a very compelling wind energy play.

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cooperation intention??? is this like cocktails and a handshake ?

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