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Sinovel Wind Shares Gain Up to 8.8% in Shanghai Trading

Sinovel Wind Group Co. paced gains among some Chinese wind-turbine makers in Shanghai and Shenzhen trading after Xinhua News Agency reported that China will increase offshore wind power installed capacity.

Sinovel jumped 5.7 percent to 29.10 yuan in Shanghai as of 10:09 a.m. local time, the biggest intraday advance since May 31. Xinjiang Goldwind Science & Technology Co. rose 1.4 percent to 14.63 yuan in Shenzhen. Xiangtan Electric Manufacturing Co. climbed 2.2 percent to 11.50 yuan.

Installed capacity will be increased to five gigawatts by 2015 and 30 gigawatts by 2020, Xinhua cited the National Energy Administration as saying. Public tender for the second round of offshore wind power concession projects will be completed during the first half of 2012, the report said.

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