Update: Ming Yang and Huaneng project pact will aim for 1GW

Chinese wind developers are increasingly looking at new sites in the south

Turbine manufacturer Ming Yang has signed an agreement with Huaneng Renewables – a unit of China’s biggest electricity producer – to jointly develop wind and solar projects in Chinese and overseas markets.

Huaneng Renewables will take a majority stake in the planned joint-venture entity, with Ming Yang taking a minority share. An undisclosed third party investor will also participate, Ming Yang’s investor relations director Beatrice Li tells Recharge.

The companies have not yet decided on the amount of capital to put into the venture but they plan to build a 100MW wind farm in China this year. A total of 1GW of projects will be completed within three years.

Ming Yang, China’s fourth largest turbine supplier last year, will be the ‘preferred’ equipment supplier to…

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