The comments were outlined by Han Junliang, board chairman and CEO of Sinovel, at a a ceremony in Beijing to sign a strategic cooperation agreement with China Development Bank (CDB).
Under the agreement, CDB will extend $6.5billion medium- and long-term loans to Sinovel to support the turbine giant’s globalization drive.
By the end of June 2010, CDB had a foreign exchange loan balance of $100 billion to become China’s largest bank for overseas investment and financing cooperation.
In 2009, Sinovel had 3.51GW turbines installed in China (2,294 units of 1.5MW turbines and 23 units of 3MW turbines), totaling 25.5 percent of the newly installed wind turbine capacity in the country.
This amounted to 9.2 percent of the world market share, third largest in the world, after Vestas andGE.
By the end of 2009, Sinovel had 5.658GW turbines installed, totaling 21.9% of the Chinese market, the largest in the country.
Sinovel, established in 2006, has a turbine production base in Liaoning, Jiangsu, Gansu and Inner Mongolia. Its localization rate for the 1.5MW turbines is above 90 percent, and that for 3MW turbines is above 80 percent, the highest in the country.
It will roll 5MW offshore wind turbine off the production line in east China’s Jiangsu base in the fourth quarter this year. The company also plans to produce 3,500 units of 1.5MW turbines and 200-300 units of 3MW turbines this year.
In 2009, Sinovel exported 10 units of 1.5MW turbines to India. It is planning to set up business centres in Europe and North America, respectively.
China aims to have 150GW installed wind power capacity.