ZHONGSHAN, China, July 30, 2015 /PRNewswire/ -- China Ming Yang
Wind Power Group Limited (NYSE: MY) ("Ming Yang" or the "Company"), a leading wind
energy solution provider in China,
has been ranked 3rd in China's newly installed wind power capacity in
a recent update released by the China Wind Energy Association
("CWEA") detailing the wind power generation in China from January to June 2015.
In a news release published on
July 28, 2015, CWEA detailed that
China's newly installed wind power
capacity during the first half of 2015 was 10.1GW, a significant increase of 40.8% on a
year-on-year basis with growing demand for wind turbines from
domestic wind farm operators. CWEA also noted that the installed
capacity ranking of the top five manufacturers remained the same as
2014. Among others, Ming Yang's installed wind capacity increased by
more than 90% as compared with the same period of last year.
The news release also highlighted that in terms of overall
market environment, 2MW products have eventually become the main
model, the installed capacity of which had accounted for over 50%
of total installed capacity in the first half of 2015. According to
the news release, Ming Yang had the
largest market share of 16.5% of 2MW wind turbines in China. Riding on this market momentum, the
Company recently launched a new 2.0MW model with 118-meter blades,
which is able to increase overall power generation by approximately
15 to 20%, and the Company is also developing additional
manufacturing capacity for its next generation of 3MW SCD
products.
Chuanwei Zhang, Chairman and
Chief Executive Officer of Ming
Yang, commented: "The rapid growth of the wind power sector
in the first half of 2015 met our expectation, as the ongoing
policy supports for renewable energy within China has led to significant opportunities for
the wind power sector. We believe Ming
Yang is well positioned to take advantage of this mainstream
trend, by leveraging our current largest market share of 2MW
products in China in the first
half of 2015, and our expanding manufacturing capacity for the next
generation of 3MW SCD products will further solidify our position
in the wind power sector. We believe that given the supportive
environment in China, wind power
has substantial growth potentials, and Ming
Yang will continue to capitalize on new market opportunities
to create value for shareholders."
About China Ming Yang Wind Power Group Limited
China Ming Yang Wind Power Group Limited (NYSE: MY) is a leading
wind energy solution provider in China, focusing on designing, manufacturing,
selling and servicing megawatt-class wind turbines, including
cutting-edge SCD (Super Compact Drive) solutions, and providing
post-sales value-added maintenance and technology upgrade services
to wind farm owners. Ming Yang
cooperates with aerodyne Energiesysteme, one of the world's leading
wind turbine design firms based in Germany, to co-develop wind turbines. In terms
of newly installed capacity, Ming
Yang was a top 10 wind turbine manufacturer worldwide and
the largest non-state owned wind turbine manufacturer in
China in 2014.
Safe Harbor Statement
This press release contains forward-looking statements. These
statements constitute "forward-looking" statements within the
meaning of Section 21E of the Securities Exchange Act of 1934, as
amended, and as defined in the U.S. Private Securities Litigation
Reform Act of 1995. These forward-looking statements can be
identified by terminology such as "will," "to be," "expects,"
"anticipates," "future," "intends," "plans," "believes,"
"estimates," "target," "goal," "strategy" and similar statements.
Such statements are based upon management's current expectations
and current market and operating conditions, and relate to events
that involve known or unknown risks, uncertainties and other
factors, all of which are difficult to predict and many of which
are beyond Ming Yang's control,
which may cause Ming Yang's actual
results, performance or achievements to differ materially from
those in the forward-looking statements. Actual results or events
may differ from those anticipated or predicted in this press
release, and the differences may be material. Further information
regarding these and other risks, uncertainties or factors is
included in Ming Yang's filings with
the U.S. Securities and Exchange Commission. Ming Yang does not undertake any obligation to
update any forward-looking statement as a result of new
information, future events or otherwise, except as required under
applicable law.
For further information, please visit the Company's website:
ir.mywind.com.cn.
For investor and media inquiries, please contact:
China Ming Yang Wind Power Group Limited
Johnson Zhang
+86-760-2813-8898
+1-646-454-8640
ir@mywind.com.cn
http://ir.mywind.com.cn
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SOURCE China Ming Yang Wind Power Group Limited