MY Signs Financing Framework Agreement for Renewable Energy Projects with Reliance Power and China Development Bank

  MY Signs Financing Framework Agreement for Renewable Energy Projects with
                  Reliance Power and China Development Bank

PR Newswire

ZHONGSHAN, China, Nov. 26, 2012

ZHONGSHAN, China, Nov. 26, 2012 /PRNewswire/ -- China Ming Yang Wind Power
Group Limited ("Ming Yang" or the "Company") (NYSE: MY), a leading wind
turbine manufacturer in China, today announced that Guangdong Mingyang Wind
Power Industry Group Limited ("Guangdong Mingyang"), a subsidiary of Ming
Yang, has entered into a financing framework agreement (the "Framework
Agreement") with Reliance Power Limited ("Reliance Power"), the largest
private sector power company in India, both in capacity under development as
well as market capitalization, and China Development Bank Corporation ("CDB"),
a government policy bank wholly owned by China's central government, under
which CDB is expected to act as the coordinating bank and lead potential
lender for renewable energy projects in India to be jointly developed by Ming
Yang and Reliance Power.

On July 2, 2012, Ming Yang announced that it has signed a Memorandum of
Understanding ("MOU") with Reliance Power to co-develop up to 2,500MW
renewable energy projects in India within three years. Under the MOU, Ming
Yang is expected to provide total engineering, procurement and construction
solutions for the projects and Reliance Power is expected to play a supporting
role in facilitating the projects in addition to providing local market
support.

Under the Framework Agreement, being the coordinating bank and lead potential
lender, CDB will act as the lead arranger to coordinate the provision of
financing facilities to Reliance Power to support future renewable energy
projects. The amount, terms and conditions of the financing facilities will be
subject to the potential lenders' respective internal approval procedures and
further assessment of the projects.

"We are very pleased to work with Reliance Power and have CDB's support for
our renewable projects. This is a big step forward for all parties involved,
aiming at facilitating the strategic cooperation in renewal energy development
between China and India. India presents a strong growth potential for us,
which is substantially reflected by Reliance Power's project pipeline." said
Mr. Chuanwei Zhang, Chairman and Chief Executive Officer of Ming Yang.
"Together with the proposed financial support by CDB, Ming Yang's strong
expertise and innovative total solutions will be expected to help us expand
more new business opportunities overseas."

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," "to be,"
"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. Transactions contemplated in this press
release also involve risks and uncertainties and are subject to changes and
developments. Actual results or events may differ from those anticipated or
predicted in this press release, and the differences may be material. 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.

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
in 2011.

For further information, please visit the Company's website: ir.mywind.com.cn.

For investor and media inquiries, please contact:

Investor and Media Contacts:
China Ming Yang Wind Power Group Limited
Beatrice Li
+86-760-2813-8898
ir@mywind.com.cn
http://ir.mywind.com.cn

SOURCE China Ming Yang Wind Power Group Limited

Website: http://ir.mywind.com.cn
 
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