MY Plans to Form Joint Venture with Huaneng Renewables on Wind Power
ZHONGSHAN, China, July 11, 2012
ZHONGSHAN, China, July 11, 2012 /PRNewswire-Asia/ -- China Ming Yang Wind
Power Group Limited ("Ming Yang" or the "Company") (NYSE: MY), a leading wind
turbine manufacturer in China, today announced that it has signed a
cooperative agreement (the "Agreement") with Huaneng Renewables Corporation
Limited ("Huaneng Renewables") (HKEx: 0958), contemplating the establishment
of a joint venture (the "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
"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 Yang is 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."
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," "goal," "strategy" 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
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
provides customers with comprehensive post-sales services. Ming Yang
cooperates with aerodyne Energiesysteme, one of the world's leading wind
turbine design firms based in Germany, to co-develop wind turbines. In terms
of newly installed capacity, Ming Yang was a top 10 wind turbine manufacturer
worldwide and the largest non-state owned wind turbine manufacturer in China
For further information, please visit the Company's website: ir.mywind.com.cn.
About Huaneng Renewables Corporation Limited
Huaneng Renewables Corporation Limited is a company incorporated in the PRC
whose H shares are listed on the Main Board of the Stock Exchange (00958.HK).
Huaneng Renewables Corporation Limited is the leading company which pure-play
the renewable energy in the PRC primarily focusing on wind power generation.
For investor and media inquiries, please contact:
Investor and Media Contacts:
China Ming Yang Wind Power Group Limited
Huaneng Renewables Corporation Limited
SOURCE China Ming Yang Wind Power Group Limited
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