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China

China

Goldwind 2013 profits rise 179%

CHINA: Goldwind has announced an 179% increase in net profit to CNY 12 billion for 2013 and a 23% market share of the Chinese market.

Goldwind's 2.5MW turbine
Goldwind's 2.5MW turbine

In its annual results, Goldwind's revenue rose 8.6% to CNY 427 million. The company also said it had a confirmed pipeline of 3.3GW and 4.1GW in unconfirmed orders.

Additionally, revenues at the company's services division was up 50%. Revenue from Goldwind-owned wind farms also rose 52%.

Goldwind chairman Wu Gang said: "The global wind power industry faced many challenges in 2013. In comparison, China's environmental policies were more encouraging for the wind power industry and the market environment improved.

"China's wind farm grid connectivity and curtailment improved in 2013 as the government introduced several encouraging policies and, after two years of industry adjustments, China's wind power industry welcomed a gradual recovery."

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