Taiwan - Shanghai Electric Group bolsters wind power business

A batch of domestic wind power equipment makers, including Shanghai Electric Group Co., Ltd., are accelerating business expansion, although British Petroleum Company PLC (BP) has recently withdrawn from China's wind power market.

The Shanghai Electric Group has announced its new development strategy and intent on gaining sales of CNY 14 billion from its wind power projects in the coming five years, growing into one of the country's top three wind power equipment manufacturers.

From 2009 to 2011, the company will aim at the production of the 2MW wind power generation sets, and its annual sales are predicted to hit CNY 5.6 billion in 2010. With a total installed capacity of 425MW, up to 393 power generate sets in Shanghai Electric Group's 11 wind farms are under construction now.

Co-founded by Shanghai Electric Wind Power Equipment Co., Ltd., subsidiary of Shanghai Electric Group, and Shanghai Shenergy New Energy Investment Co., Ltd., the Shanghai experimental wind farm project breaks ground today, with a CNY 130 million investment.

For more information, please contact Trevor Sievert at ts@windfair.net