New Energy
Major Chinese Wind Turbine Maker Sees Domestic Price Recovery
Wind turbine components manufactured at a Ming Yang Smart Energy Group plant in Baotou, Inner Mongolia.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
Ming Yang Smart Energy Group, one of China’s biggest wind turbine manufacturers, says industry efforts to boost prices are starting to bear fruit.
“Prices have recovered since February and we see the potential for a further price rise of five percentage points,” Ming Yang Chairman Zhang Chuanwei said in an interview at the Boao Forum for Asia. The gross profit margin for the top five manufacturers should be 5% to 10% at the moment, and it could go even higher “if managed properly,” he said.