Goldwind to buy Jingneng Clean Energy stock for up to USD 30m

Dec 9, 2011 - Chinese wind turbine maker Xinjiang Goldwind Science & Technology (HKG:2208) said Thursday it had decided to double to USD 30 million (EUR 22.5m) its planned investment in Beijing Jingneng Clean Energy shares.

Jingneng intended to list in Hong Kong in July 2011. At that time, Goldwind planned to buy shares in the company for as much as USD 15 million. The initial public offering (IPO), however, was postponed due to market conditions and is now seen to be completed by the end of December 2011.

Jingneng operates gas-fired power and heat installations as well as wind power, hydroelectric and other clean energy facilities. The company closed 2010 with an installed capacity of 2,255 MW, of which wind power accounted for 1,059 MW. Via its investment in Jingneng, Goldwind seeks to enhance its cooperation with the company, which is among its important customers.

(USD 1 = EUR 0.750)

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