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China Ming Yang secures US$5bn funding for wind

China Ming Yang has been granted potential financing of up to US$5 billion from the China Development Bank Corp for further developments of wind power in China and around the world.

By Kari Williamson

The financing will be used for activities in onshore and offshore wind, supply chain integration and working capital management. The wind turbine manufacturer says it will focus on overseas market development in the next three to five years.

Chairman Zhang Chuanwei sais: “The Chinese wind power equipment industry needs to evelove from the traditional turbine-selling business model to make good use of our advantages in financing technology, cost and service, which is providing total solutions and effectively managing risks.”

He adds: “Switching from a plain manufacturer model to services and manufacturer dual model, from plain WTG supplier to offering total solutions, this is the direction for Ming Yang's stratetic development.”

China Ming Yang is active in Eastern Europe, South America, South Africa, the USA, Australia and New Zeleand.

Chinese dumping?

There has recently been a string of complaints from US renewable energy companies against unfair funding of Chinese manufacturers:

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Policy, investment and markets  •  Wind power

 

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