China Ming Yang Wind Power ties up with Anil Ambani group for India push
02 July 2012
Chinese wind turbine maker China Ming Yang Wind Power Group Ltd, a leading wind turbine manufacturer in China, has entered into a strategic alliance with Reliance Anil Dhirubhai Ambani Group for developing up to 2,500 MW of clean energy projects in India as well as other South Asian countries.
Ming Yang Holings (Singapore) Pte Ltd, the Singapore subsidiary of China Ming Yang Wind Power Group Ltd, today entered into definitive agreements with Reliance Capital Ltd and other group firms of the Reliance Anil Dhirubhai Ambani Group for development of up to 2500 MW of clean energy projects in India and Ming Yang's expansion into South Asia, the Chinese company said in a joint statement with Reliance Power.
China Ming Yang Wind Power Group also signed a memorandum of undertaking (MoU) with Reliance Power Ltd to co-develop a large part of clean energy projects in India and expansion into South Asia region.
Ming Yang Holdings also plans to establish a joint venture with Reliance group firm Reliance Capital by subscribing to a significant stake in the share capital of Global Wind Power Ltd (GWPL), a company largely owned by the Anil Ambani group.
As per the agreement, Ming Yang Singapore will set up a joint venture with Reliance capital by subscribing to a significant stake in the share capital of Global Wind Power Ltd.
China Ming Yang Wind Power Ltd will provide total engineering, procurement and construction (EPC) solutions, including micrositing, wind resource assessment studies, project financing and other services for the proposed projects for Reliance and third parties. Reliance Power is expected to play a supporting role in facilitating these proposed projects in addition to providing local market support.