Goldwind halts shares, 'eyes Russia'

Goldwind shares remained suspended on the Hong Kong Stock Exchange for a second day, as reports linked the Chinese wind turbine group with a move into Russia.

Goldwind announced suspension of its shares from 27 August because it is “currently considering a major event”.

The company said trading would resume once it had made an announcement in connection with the matter.

A Goldwind spokesman declined to comment on the suspension when contacted by Recharge.

Analysts in China said the reason for the move was not immediately apparent.

Although the two may not be connected, the share-trading halt came as reports in Russia linked Goldwind with a wind turbine production venture in the country, possibly in partnership with local engineering group E4, one of the largest in the nation.

Russian news outlet Izvestia quoted a Goldwind official confirming the planned entry into Russia.

The Goldwind spokesman declined to comment on the reports, beyond saying there is “no concrete development timetable” for an entry into the Russian market.

Russia has introduced a renewable energy law to try to spur wind and solar development in the country, but has faced criticism over its ferocious local-content requirements for foreign manufacturers.