ZHONGSHAN, China, Dec. 7, 2010 /PRNewswire-Asia/ -- China Ming Yang Wind Power Group Limited (NYSE: MY) ("Ming Yang", or the "Company") today announced that the Company won its bid for a total of 200MW of its 3.0MW Wind Turbine Generators ("WTGs") for a government authorized wind farm project in Hami area, Xinjiang Uygur Autonomous Region, China. Ming Yang will co-develop this Yandun No. 6 Wind Power Farm with Xinjiang Huaran Oriental New Energy Co. Ltd, a leading China-based independent power producer.
Comprising one tenth of the total 2,000 MW capacity available in the Xinjiang Hami wind power projects, Ming Yang's winning bid is equivalent to 67 units of 3.0MW Super Compact Drive ("SCD") WTGs with an awarded total contract value of approximately RMB 824 million.
The bid was launched in October 2010 and believed to be China's first onshore wind turbine generator auction for 2.5 MW and above capacity turbines. Ten wind farm projects in total are expected, with four wind farms in Kushui town and six in Yandun town.
Mr. Chuanwei Zhang, Chairman and CEO of Ming Yang, commented: "This is a great result for Ming Yang and an endorsement of our SCD technology and the cost efficiencies it brings. By winning 200MW of capacity, we have now secured 118 units of SCD turbines. 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."
As previously announced, Ming Yang was verbally informed by the bidding committee in November that Ming Yang had successfully won its bid. China Machinery & Equipment International Tendering Co. Ltd. has now officially notified Ming Yang that the Company was awarded the Yandun project.
About China Ming Yang Wind Power Group Limited
China Ming Yang Wind Power Group Limited (NYSE: MY) 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 aerodyn Energiesysteme, 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 2009. 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 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.
For investor and media inquiries, please contact:
Phone: + 1 212-333-3810
Tong Zhao / Nina Zhan
Phone: + (852) 3512 5000
SOURCE China Ming Yang Wind Power Group Limited