China WindPower lays out plans to invest $116m annually to 2015

Hong Kong-listed China WindPower says it will invest around HK$900m ($116m) in new wind farms each year until 2015, despite the Chinese wind sector’s uncertain future within the UN’s Clean Development Mechanism (CDM).

China WindPower, which for tax purposes is based in Bermuda, saw its revenues soar 55% to HK$562m in the nine-month period ended 31 December 2010.

It commissioned five new wind farms during the period, each rated at 49.5 megawatts (MW), bringing its total on-line generation capacity to 566MW. Another four projects, totalling 349MW, are under construction, and it intends to install 700MW during 2010. Altogether, its project pipeline stretches out to 9.5 gigawatts (GW).

The firm is looking to take advantage of CDM funds, as well as China’s aggressive push into…

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