ZHONGSHAN, China, Aug. 4, 2011 /PRNewswire-Asia/ -- China Ming Yang Wind Power Group Limited ("Ming Yang" or the "Company") (NYSE: MY), a leading wind turbine manufacturer in China, today announced that it signed a strategic cooperative agreement (the "Agreement") with China Three Gorges New Energy Corp. ("CTGNE"), a fully-owned subsidiary of China Three Gorges Corporation ("CTGPC") to foster closer cooperation in both domestic and international wind power development. CTGPC is a wholly state-owned enterprise which is responsible for building and operating China's Three Gorges Dam Project.
A signing ceremony between CTGNE and Ming Yang was held in Guangzhou, attended by Yang Wang, Provincial Committee Secretary of Guangdong Province, Huahua Huang, Governor of Guangdong Province, Xiaodan Zhu, Vice-governor of Guangdong Province, Guangjing Cao, Chairman of CTGPC, Fei Chen, General Manager of CTGPC, Jianguo Zhao, Chairman of Southern Power Grid Co, Ltd, Li Pan, Chairman of Guangdong Yudean Group Co., Ltd, Suoming Qian, Party Secretary of CTGNE, and Chuanwei Zhang, Chairman and Chief Executive Officer of Ming Yang.
The cooperation between Ming Yang and CTGNE will focus on offshore wind power development in Guangdong, giving Ming Yang preferential supplier status in CTGNE wind power projects in Guangdong. Furthermore, the agreement sets the possible supply of Ming Yang EPC solutions for CTGNE wind power projects, and paves the way for domestic and international wind power projects development in the future.
"Establishing a closer working relationship with CTGNE helps to reaffirm Ming Yang's leading position and forming of the special alliance in the development of offshore wind power in Guangdong, as well as its competitive advantage in offering innovative EPC wind power solutions in China," said Chuanwei Zhang, Chairman and Chief Executive Officer of Ming Yang. "Ming Yang continues to expand its blue-chip customer base, and we look forward to working with CTGNE to spearhead development of offshore wind power in Guangdong Province and beyond."
About China Ming Yang Wind Power Group Limited
China Ming Yang Wind Power Group Limited (NYSE: MY) is a leading and fast-growing wind turbine manufacturer in China, focusing on designing, manufacturing, selling and servicing megawatt-class wind turbines. Ming Yang produces advanced, highly adaptable wind turbines with high energy output and low energy production costs and provides customers with comprehensive post-sales services. Ming Yang cooperates with aerodynEnergiesysteme, one of the world's leading wind turbine design firms based in Germany, to develop wind turbines and share intellectual property rights. Ming Yang's key customers include the five largest state-owned power producers in China, with an aggregate installed capacity accounting for more than 50% of China's newly installed capacity in 2010. For further information, please visit the Company's website: www.mywind.com.cn.
Safe Harbor Statement
This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "target" and similar statements. Such statements are based upon management's current expectations, results of and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond Ming Yang's control, which may cause Ming Yang's actual results, performance or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties or factors is included in Ming Yang's filings with the U.S. Securities and Exchange Commission. Ming Yang does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.
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Investor and Media Contacts:
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SOURCE China Ming Yang Wind Power Group Limited