Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Ambani’s Global Wind Seeks Approval for Ming Yang Turbine

Global Wind Power Ltd., backed by billionaire Anil Ambani, sees approval this year to sell a new turbine in India from China Ming Yang Wind Power Group.

Global Wind, a venture between Ambani’s Reliance Capital Ltd. and Ming Yang, will submit the 1.5-megawatt machine to the Centre for Wind Energy Technology next month with approval seen about a month later, Chief Executive Officer Hiren Shah said in an interview. The center vets turbine models for use in India.

Chinese producers such as Sinovel Wind Group Co., Dongfang Electric Corp. and Shanghai Electric Group Co. have won Indian orders to diversify out of an oversupplied home market. Global Wind, which assembles turbines in India from Ming Yang parts, will seek approval for a second 1.5-megawatt machine by May.

The arrangement with Ming Yang may allow Global Wind to tap Chinese lenders for export finance for the construction of wind farms in India, where developers’ borrowing costs can be as high as 15 percent, Shah said in a presentation in Delhi.

Turbines make up 80 percent of building costs. Funding projects with foreign loans, even after currency hedging, may lower borrowing costs to as low as 7 percent, Shah said.

Ming Yang and Ambani’s Reliance Anil Dhirubhai Ambani Group Ltd. announced an agreement last year to develop as much as 2,500 megawatts of wind capacity in India by 2015. In November, China Development Bank Corp. said it may lend as much as $3 billion to the companies after assessing their plans.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.