China Ming Yang Wind Power (MY) Signs MOU For More China Wind Development

China Ming Yang Wind Power (MY) has announced they have signed a memorandum of understanding to cooperate on a series of proposed wind energy projects with the provincial government of Hebei, a province in Northern China.  The initial agreement provides designated land from the local government for Ming Yang to develop and there are likely financial incentives for opening up supply chains for wind power equipment and wind/solar hybrid storage solutions.

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Mr. Chuanwei Zhang, Chairman and CEO of Ming Yang, commented, “We believe this cooperation with the Hebei government will enhance our ability to grow our business and further expand our market share in China.”

Shares of MY are up a couple percent this morning and the stock appears poised for a breakout soon.

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