China WindPower Sees ‘Significant’ Profit Rise on Power Output

Jan. 2 (Bloomberg) -- China WindPower Group Ltd. expects a “significant increase” in 2013 profit after boosting output from wind and solar farms.

The increase is also due to rising earnings from engineering, procurement and construction services, Hong Kong-based China WindPower said today in a statement.

The company, expected to report earnings in March, posted HK$40.4 million ($5.2 million) of profit in 2012. It had more than HK$1.7 billion of cash and cash equivalents, it said.

To contact Bloomberg News staff for this story: Feifei Shen in Beijing at fshen11@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net