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India

India

Ming Yang to supply 2.5GW to India

INDIA: Ming Yang has entered into an agreement with Indian Power supply Reliance Capital to set up a joint venture to develop up to 2.5GW of wind projects in India.

Under the agreement, Reliance Capital will hand over a share in Global Wind Power Limited, a wind power solutions provider in India. Reliance Capital is the largest shareholder in Global Wind Power.

Ming Yang is to provide engineering, procurement and construction ("EPC") service, including micro-siting, wind resource assessment studies and project financing.

Reliance is expected to play a supporting role in facilitating these proposed projects in addition to providing local market support.

Ming Yang is not the first Chinese turbine manufacturer to sell turbines to India. In April last year, Shanghai Electric signed an agreement with KSK Energy of India to export 250MW to India.

Speaking about the deal with Reliance Capital, Chuanwei Zhang, chief executive officer of Ming Yang said: "Tis is a milestone of Ming Yang's development in the Asian region, and in particular, India, which we believe is going to be one of the fastest growing renewable markets in the next few years."

Global market share

Ming Yang has been pushing to build market share outside China. In February, it announced two deals to supply and build wind farms in Bulgaria totalling 125MW in capacity.

The firm’s subsidiary Ming Yang Wind Power signed Engineering, Procurement and Construction (EPC) contracts with a joint venture between developers W. Power and A1 Development EOOD in December 2011.

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