Mingyang receives $5 billion expansion funds

CHINA: Guangdong Mingyang Wind Power had obtained $5 billion dollars financial credit from China Development Bank to expand overseas and domestic sales.

Mingyang's SCD two-bladed turbine
Mingyang's SCD two-bladed turbine

The credit from China Development Bank will supply solid financial support to Mingyang’s further expansion, industry officials say.

Mingyang was listed in the New York Stock Exchange on 1 October 2010. It aims to develop into a world leading wind-turbine maker by 2015.

Mingyang has fully initiated its overseas strategy. It has tapped the markets in Bulgaria, India, South Africa, and the United States.

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