Ming Yang, China’s fourth-largest turbine maker, was said to be close to reaching a deal with Vestas, the world’s biggest wind company, according to Chinese business magazine Caixin.
The report claimed that it was preparing a takeover bid worth €1.5bn-2bn ($1.8bn-2.5bn).
Ming Yang has “not taken this step” and has “no such plans”, chairman and chief executive Zhang Chuanwei tells Recharge.
However, while the company has not entered discussions with Vestas, it has been looking into the possibility of such an acquisition, Recharge understands.
Ming
