China Ming Yang, China Wind Power ink wind farm deal
Wind power producer China Wind Power International Corp said it signed an engineering contract with China Ming Yang Wind Power Ltd for the construction of its wind farm project in the Asian country, Reuters reported.
Under the terms, Chinese wind turbine manufacturer Ming Yang will deliver and install 132 units of 1.5 megawatt (mW) wind turbine generators and provide engineering and construction management for the 198 mW-project.
China Wind said the project, which is expected to be completed by the end of the second quarter in 2012, will likely generate about $38.2 million annually once the farms are in full production.
Shares of the Ontario-based Wind Power closed at 95 Canadian cents on Wednesday on the Toronto Stock Exchange, while those of Zhongshan-based China Ming Yang closed at $3.75 on the New York Stock Exchange.