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India

Ming Yang and Reliance complete 2.5GW India deal

INDIA: Ming Yang Wind Power has sealed a deal to develop 2.5GW of wind power projects in India with privately-owned power company Reliance Power.

Ming Yang will supply 2.5GW of turbines to India
Ming Yang will supply 2.5GW of turbines to India

The $3 billion 2.5GW deal comprises ten wind farms across six states. Construction has begun on the $240 million first 200MW plant, located in the state of Maharashtra.

On 2 July, Chinese sompany Ming Yang announced that it had signed a memorandum of understanding with Reliance Power to co-develop the 2.5GW wind projects in India within three years.

Ming Yang is to provide total engineering, procurement and construction solutions for the projects. Reliance Power will play a supporting role in facilitating the projects, in addition to providing local market support.

Ming Yang chairman and CEO Zhang Chuanwei, said: "India presents a strong growth potential for us, which is substantially reflected by Reliance Power's project pipeline. Together with the proposed financial support by China Development Bank, our strong expertise and innovative total solutions will be expected to help us expand more new business opportunities overseas."

Joint venture details

Under the agreement, Reliance Capital will hand Ming Yang 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 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.

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