Hanwei delivers 40 wind turbines in 2008



    TSX: HE

    VANCOUVER, Jan. 15 /CNW/ - Hanwei Energy Services Corp. ("Hanwei" or the
"Company") today confirmed that it completed and delivered 28-1.5-megawatt
("MW") turbines during the fourth quarter of 2008, bringing the total number
of turbines completed and delivered for the year ended December 31, 2008 to
forty (40), achieving the previously disclosed target. Hanwei also announced
that it has completed and delivered 15 wind power blades in the fourth quarter
of 2008.
    The Company had previously announced that it had produced and had ready
for delivery a total of 17 wind power blades, however since the blades need to
be delivered in sets of three, a total of 15 blades were delivered. Hanwei
expected to complete and deliver an additional 23 blades during the fourth
quarter of 2008 for a total of approximately 40 blades for all of 2008,
however delivery of the remaining blades has been rescheduled for the first
quarter of 2009. Hanwei is currently completing finishing work on a total of
30 wind power blades that were in progress during the fourth quarter of 2008.
    The turbines were produced using technology acquired through the recently
completed acquisition of 99 percent of Daqing Deta Electric Co. Ltd. ("Deta"),
which includes a multi-year agreement with Ruihao for up to 1200 MW of wind
power equipment. Hanwei is currently producing wind power equipment under the
initial 200 MW manufacturing contract between Deta and Ruihao. Twenty (20) of
the turbines produced and delivered in 2008 satisfy the wind turbine portion
of the original wind power contract between Hanwei and Deta, signed in June
2007.
    "After launching our wind power equipment business in mid 2007, we made
great progress in 2008 by acquiring the technology and business of Deta,
recruiting talented management and skilled labour, improving production
efficiency, acquiring technology licenses and establishing relationships with
manufacturers in our supply chain," stated Fulai Lang, President and CEO of
Hanwei, "We have excess production capacity for 1.5 MW turbines, in order to
meet our anticipated orders for 2009 and are adding blade moulds and
streamlining processes to increase blade production capacity. In 2009, we
intend to make further progress in our goal of building a leading wind power
equipment business by adding at least one new customer, improving technology
and securing additional working capital loans to support our growth."
    To date, a total of 10 Hanwei wind turbines have been installed at Ruihao
Energy Technology Co., Ltd.'s ("Ruihao") wind farm in Heilongjiang province,
China. Seven of the turbines are currently operational and generating
electricity into the grid. Initial field-testing, including calibration and
debugging of the control systems, has progressed well. Hanwei expects the
final stage of field-testing, including 500 hours of continuous operation, to
commence in January 2009.
    Hanwei expects strong growth for its wind power business in 2009, subject
to continued availability of working capital funding facilities in China.
Hanwei expects significant seasonality for its wind power business in 2009,
with the first quarter expected to be the slowest quarter for wind power
deliveries due to the installation and delivery schedule under discussion with
Ruihao.

    About Hanwei Energy Services Corp.

    Hanwei Energy Services Corp. provides high value products and services
for the energy sector in China and the Asia region. Hanwei serves its major
energy customers through manufacturing facilities in China, producing products
for the oil, coal power and wind power industries. Hanwei is focusing on
providing products and services that address the growing need for improved
energy efficiency and environmental protection in China and the Asia region.
www.hanweienergy.com

    
                         FORWARD LOOKING INFORMATION
    
    Certain information in this news release is forward-looking within the
meaning of certain securities laws, and is subject to important risks,
uncertainties and assumptions. This forward-looking information includes
information relating to status of and progress under contracts to provide
turbines and blades, production capacity and production estimates for turbines
and blades, growth of the wind power equipment business, addition of new
customers, improvements in technology, securing working capital loans, and
scheduled field-testing of the wind power equipment. The forward-looking
information is based on certain assumptions, which could change materially in
the future, including the assumption that the Company will be able to
effectively complete contracts for delivery of turbines and blades on time and
on budget, that equipment necessary to increase production capacity will be
delivered when expected, that growth in the wind power equipment business will
continue, that at least one new customer will be added, that the Company will
be able to improve its technologies, that the Company will be able to secure
additional working capital loans to support its growth, and that the field
testing of the wind power equipment will commence at a certain time. The
forward-looking information in this news release describes Hanwei's
expectations as of the date of this news release. The results or events
anticipated or predicted in such forward-looking information may differ
materially from actual results or events. Material factors or risks which
could cause actual results or events to differ materially from a conclusion in
such forward-looking information include the risks set out in Hanwei's Annual
Information Form and Management's Discussion and Analysis referred to below,
as well as the risks that the Company may not be able to execute on its
expectations to deliver products in accordance with purchase orders or at all,
that production of turbines and blades in 2009 may not meet estimated
projections and that capacity for turbines and blade production may not be
maintained or increased to the level expected or at all, and there is no
assurance that the Company's wind power equipment business will grow, that the
Company will add new customers, that the Company will improve its
technologies, that the Company will be able to secure additional working
capital loans to support its growth. When relying on Hanwei's forward-looking
information to make decisions, investors and others should carefully consider
the foregoing factors and other uncertainties and potential events. Hanwei
cautions that the foregoing list of material factors is not exhaustive and is
subject to change. For additional information with respect to certain of these
and other factors, refer to the risk factors section of Hanwei's Annual
Information Form dated April 3, 2008 filed with Canadian securities
regulators, and the risks discussed in Hanwei's Management's Discussion and
Analysis dated November 14, 2008 for the three and nine months ended September
30, 2008, both of which are available on SEDAR at www.sedar.com.
    THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS
THE EXPECTATIONS OF HANWEI AS OF THE DATE OF THIS NEWS RELEASE AND,
ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE
UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS
INFORMATION AS OF ANY OTHER DATE. WHILE HANWEI MAY ELECT TO, IT DOES NOT
UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED
IN ACCORDANCE WITH APPLICABLE SECURITIES LEGISLATION.





For further information:

For further information: Kim Oishi, Senior Vice President, Finance and
Business Development, Telephone: (416) 804-9228, koishi@hanweienergy.com;
Kevin O'Connor, Investor Relations, Telephone: (416) 962-3300,
ko@spinnakercmi.com

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HANWEI ENERGY SERVICES CORP.

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