China Wind Power Breaks Ground for 198 MW Phase III Development
September 19 2011 - 11:15AM
Marketwired
China Wind Power International Corp. (TSX VENTURE: CNW) ("China
Wind Power" or the "Company"), an independent wind power producer
in China, has broken ground on its 198 MW Phase III wind energy
development planned for Du Mon County in Heilongjiang Province.
Foundation work is now underway to prepare for the installation of
the 132 wind turbines planned for Phase III.
"Breaking ground at Phase III marks another milestone for our
Company," said Mr. Jun Liu, Chief Executive Officer of China Wind
Power. "Importantly, with our recently announced engineering,
procurement and construction contract with a world-leading turbine
manufacturer, construction at Phase III is proceeding under
favourable financial terms with no immediate impact on our working
capital."
Construction at Phase III is expected to be completed by the end
of the second quarter of calendar 2012. When completed, the 198 MW
project (to be comprised of four wind farms, each with a total
output of 49.5 MW) is expected to generate approximately 400
million KWh per year.
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.
Caution Regarding 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.
Contacts: China Wind Power International Corp. Wendell Zhang
Chief Financial Officer 416-916-4205
wzhang@chinawindpowerinternational.com Cinaport Financial Services
Inc. Trevor Heisler Director, Investor Relations (416) 213-8118 ext
216 theisler@cinaport.com
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