Longyuan: 'We will overtake Iberdrola by 2014'

Speaking at the 20th anniversary of Longyuan's launch, Xie said: "If all goes well, we will surpass Iberdrola Renewables to be the largest wind farm developer in the world next year."

By the end of 2012, Longyuan Power had installed 10.5GW, the largest capacity in China and second largest in the world.

Xie said "Our objective is to be the largest in wind turbine installations and rate of return on equity."

However, Xie admitted that curtailment in wind power generation in 2012 had affected Longyuan Power profits. He did not elaborate on the company’s net profit in 2012.

In December, it raised HKD 2.9 billion ($375 million) through the Hong Kong Stock Exchange to spend on onshore and offshore development.

Crossing 10GW

In January, Longyuan achieved 10GW of wind installations, after its Longtan wind farm in south-west China's Yunnan province went into operation.

The 49.5MW Longtan project is based in Qujing city, 2,500 metres above sea level. It comprises 33 high-altitude wind turbines made by Guodian United Power.

Longyuan is looking to further develop high-altitude wind farms. So far, it has secured 3GW wind power resources in Yunnan province. It has put 198MW wind farms in operation and 330MW wind farms are under construction.

It is also planning 1GW wind on plateaus in neighbouring Guizhou province and is installing turbines for the 200MW wind farm in Naqu, Tibet, which is to be completed by 2015.