- Company also announces expanded potential capacity for wind energy
development in Du Mon County -
TORONTO, Nov. 12 /CNW/ - China Wind Power International Corp. (TSX-V: CNW) ("China Wind" or the "Company"), today announced the signing of letters of intent to acquire two wind farm sites - one in Dongning County, in the east area of Heilongjiang Province, and the other in Anda City in the southwest area of Heilongjiang Province. Both wind farm sites to be acquired have obtained all necessary government pre-approvals and are in the process of obtaining final approvals.
"The acquisition of these two development sites would extend our wind energy potential beyond that of Du Mon County," said Mr. Jun Liu, Chief Executive Officer of China Wind. "We would expect to enter definitive agreements to purchase these two sites upon the sites receiving final government approvals for wind energy development."
The Company also announced that it has amended its Wind Power Base Master Plan ("Master Plan") for wind energy development in Du Mon County based on a recent wind assessment of an expanded area of 612 square kilometers, which demonstrated wind energy potential of 1,150 MW for the area. The Company's expanded Master Plan has obtained pre-approvals from different government agencies and has been included into the newly compiled Heilongjiang Province Renewable Energy Development Plan. The final approval for the expanded Master Plan is expected to be obtained in June 2010. The approval of the expanded Master Plan would enable the Company to build-out capacity of 200 MW to 400 MW each year for the next three to five years.
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 546 MW over five development phases. The Company's common shares are listed on the Toronto Venture Exchange under the symbol CNW. The Company has approximately 24 million shares outstanding.
This press release contains forward-looking statements, within the meaning of applicable securities legislation, concerning China Wind's business and the markets in which it operates. In certain cases, forward-looking statements can be identified by the use of words such as ''plans'', ''expects'' or ''does not expect'', ''budget'', ''scheduled'', ''estimates'', "forecasts'', ''intends'', ''anticipates'' or variations of such words and phrases or state that certain actions, events or results ''may'', ''could'', ''would'', ''might'' or ''will be taken'', ''occur'' or ''be achieved''. These forward looking statements are based on current expectations, and are naturally subject to uncertainty and changes in circumstances that may cause actual results to differ materially. Readers are cautioned not to place undue reliance on such forward-looking statements. Forward-looking information is provided as of the date of this press release, and China Wind assumes no obligation to update or revise them to reflect new events or circumstances, except as may be required under applicable securities laws.
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.
SOURCE CHINA WIND POWER INTERNATIONAL CORP.
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