CNW China Wind Power International Corp.

TORONTO, Aug. 17, 2011 /CNW/ -- TORONTO, Aug. 17, 2011 /CNW/ - China Wind Power International Corp. (TSXV: CNW) ("China Wind Power" or the "Company"), an independent wind power producer in China, today announced that it has signed an engineering, procurement and construction ("EPC") contract with China Ming Yang Wind Power Group Limited (NYSE: MY) ("Ming Yang"), a world-leading manufacturer of turbines in China, and has commenced its 198 MW Phase III wind farm project, consisting of four wind farm projects each with total output of 49.5 MW. Under the terms of the EPC contract, Ming Yang will deliver and install 132 1.5 MW wind turbines as well as provide engineering and construction management for the 198 MW wind farm project. "The commencement of Phase III, along with the signing of an EPC contract with Ming Yang, is a critical next step towards our objective of fully developing our wind resource in Du Mon County," said Mr. Jun Liu, Chief Executive Officer of China Wind Power.  "In particular, our new arrangement with Ming Yang enables us to access advanced turbines that are ideally suited for China's specific wind and weather conditions. Just as significant, our contract provides us favourable financial terms with no immediate impact on our working capital." "The signing of the EPC contract with China Wind Power is another successful application of our new business model," said Mr. Chuanwei Zhang, chairman and CEO of Ming Yang commented, "Ming Yang's EPC total solution and customized product offering together with the abundant wind resource obtained by China Wind Power will help to promote a win-win outcome, helping Ming Yang to expand its market share and China Wind Power to accelerate development of its wind resources." Phase III consists of four wind farms located in Du Mon County, Heilongjiang Province, China, adjacent to the Company's Phases I and II and shares the same wind resource.  The project is expected to be completed by the end of the second quarter of calendar 2012 and to generate approximately 400 million KWh per year or 244 million RMB (approximately C$37 million) annually once the wind farms are in full production. As announced previously, China Wind Power has completed Phase I of the five planned Phases of development.  Phase II, which will have a total capacity of 49.5 MW, is currently under construction and is expected to be completed by the end of calendar 2011. About China Ming Yang Wind Power Group Limited China Ming Yang Wind Power Group Limited (NYSE: MY) is a leading and fast-growing wind turbine manufacturer in China, focusing on designing, manufacturing, selling and servicing megawatt-class wind turbines.  Ming Yang produces advanced, highly adaptable wind turbines with high energy output and low energy production costs and provides customers with comprehensive post-sales services.  Ming Yang cooperates with aerodyn Energiesysteme, one of the world's leading wind turbine design firms based in Germany, to develop wind turbines and share intellectual property rights. Ming Yang's key customers include the five largest state-owned power producers in China, with an aggregate installed capacity accounting for more than fifty percent of China's newly installed capacity in 2009. About China Wind Power International Corp. China Wind Power International Corp. is an Ontario company that is uniquely positioned to capitalize on the growing demand for wind power in China.  The Company indirectly holds the exclusive rights for wind energy development in Du Mon County, Heilongjiang Province, which has a demonstrated potential installed capacity of 1,150 MW of wind energy developable over an area of 612 square km.  While 1,150 MW represents the Company's long-term potential for wind power in the area, its current plans are for building out approximately 800 MW over five development phases.  The Company's common shares are listed on the TSX Venture Exchange under the symbol "CNW". The Company has approximately 63.9 million shares outstanding. For more information and the latest updates on China Wind Power, visit our investor relations blog at http://chinawindpower.posterous.com or follow us on Twitter at http://twitter.com/ChinaWindPower Forward-looking statements Certain statements that are not historical facts made in this press release may be forward looking statements subject to risks and uncertainties. Statements containing words such as "will", "could", "expect", "may", "anticipate", "believe", "intend", "estimate", "plan" and other similar expressions are forward-looking statements that represent management's beliefs at the time the statements are made and are based on certain factors and assumptions including wind farm construction and commercial production schedule, output and capacity, revenue and earnings expectations and market potential. These forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events to differ materially from those projected in forward-looking statements. Important factors that could cause actual results to differ materially from the Company's expectations include uncertainties involving the availability of financing; fluctuations in currency exchange rates; uncertainties relating to economic and market conditions; uncertainty of estimates of capital and operating costs;  the need to obtain additional financing to develop the projects and uncertainty as to the availability and terms of future financing; the possibility of delay in construction projects and uncertainty of meeting anticipated program milestones; uncertainty as to timely availability of permits and other governmental approvals; and other risks and uncertainties disclosed in the information circular dated November 5, 2010, which is available at www.sedar.com under the Company's profile. Except as required by applicable securities laws, the Company undertakes no obligation to update any forward looking statement to reflect events or circumstances after the date on which such statement is made. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/August2011/17/c4211.html table border="0" valign="top" cellspacing="0" tr valign="top" td align="left" Wendell Zhangbr/ Chief Financial Officerbr/ China Wind Power International Corp.br/ 416-916-4205br/ a href="mailto:wzhang@chinawindpowerinternational.com"wzhang@chinawindpowerinternational.com/a /td td   /td td align="left" valign="top" Philip Dalebr/ Investor Relationsbr/ TMX Equicombr/ 416-815-0700 ext 253br/ a href="mailto:pdale@equicomgroup.com"pdale@equicomgroup.com/ab /b /td /tr /table p   /p

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