China's Longyuan reveals plans for global expansion

Longyuan Power Group is planning to expand outside China, with the high-potential South African market remaining prominent on its agenda.

“We will proactively push forward our wind-power development in South Africa, while fostering the preliminary work of our projects in North America and Eastern Europe,” the wind-power developer says.

Longyuan also reports that its net profit more than doubled last year to 2.02bn yuan ($307m) from 894m yuan in 2009, on the back of a massive increase in capacity. Longyuan installed 2.05GW of wind-energy capacity in 2010, bringing its total to nearly 5.8GW.

The company says the average price it paid for turbines fell by 15%.

Longyuan predicts it will add 2GW Log in to read complete article.

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