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China

China

Sinovel unveils plan for wind turbine plant

CHINA - Sinovel Wind Group has announced plans to invest 3 billion yuan (£285 million) in a plant to produce turbines for the domestic and international market.

Sinovel's SL 3MW series turbine
Sinovel's SL 3MW series turbine
In a statement, the Shanghai municipal government said that construction of the Lingang plant would start in February 2011 and that it would be completed the following July.

The plant will produce 5MW, 5MW and 10MW turbines and have an annual capacity of 1.5GW.

Sinovel said in March it plans to raise 3.5 billion yuan in an initial public offering on the Shanghai Stock Exchange.

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