A Strategic Cooperation Agreement was Signed between China Development Bank and Sinovel Wind,Pushing the Leading Wind Power Corporate Forward Internationalization

Post time:2016/5/30 10:46:05

Recently, an Explorative Financial Planning and Development & Strategic Cooperation Agreement was signed between China Development Bank (hereafter referred as CDB) and Sinovel Wind (Group) Co., Ltd (hereafter referred as Sinovel Wind). Chaoliang Jiang, president of the CDB, and Junliang Han, chairman & president of Sinovel Wind, were present at the signing ceremony. Representatives of both sides, Jingdong Wang, president of CDB Beijing Branch, and Lecheng Li, vice president of Sinovel Wind, signed the agreement. According to the Agreement, CDB will provide Sinovel Wind with a co-financing amount of $ 6.5 billion to support the leading wind power corporate forward internationalization by middle & long-term financing.

Chaoliang Jiang, president of the CDB, and Junliang Han, chairman & president of Sinovel Wind, had talks before the ceremony. Mr. Jiang indicated that, Sinovel Wind has achieved excellent market performance in the rapid development in the past few years, and become the largest wind power manufacturing enterprise in China, therefore CDB will take full advantage of middle & long-term investment and financing as well as its international co-operation experience to fully support Sinovel Wind developing international market.

Sinovel Wind is the first Chinese professional high-tech enterprise committed to the independent development, design, manufacturing and marketing of Large-scale Land-based, Offshore and Intertidal Zone Wind Turbines for various wind resources and environmental conditions in the world. The corporate has achieved rapid development in the past few years: sales amount and profit constantly doubled in 2007-2009, and the operating income maintained rapid growth in 2010. In 2009, the newly installed capacity of Sinovel Wind reached up to 3.51 million kW, ranking the first in China and the third in the world in this industry.

The responsible person of Sinovel Wind expressed that the Strategic Co-operation Agreement with CDB will become a powerful support for the rapid development of the Corporate, which shall have a significant impact on the global strategic development of the Corporate and even the whole wind power equipment manufacturing industry. Sinovel Wind has taken on the historic mission of localization of important national machinery. Under the support of relative national policies, the Corporate will constantly improve its competitive strength to lead the Chinese Wind Power Industry into the international market in the way of rapid development. And the Corporate will be engaged in comprehensive cooperation in areas of Overseas Project Financing & other Investment and Financing, Funds Management & Settlement, M & A, Global Procurement Services etc. with the support of comprehensive financial products and excellent innovation capacity of CDB for the early realization of the strategic purpose of internationalization and for the industrial No.1 position in the world.


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