These decisions come as local media reports claim that the Chinese wind operator, Huaneng New Energy, is also contemplating an IPO. These moves coincide with recent warnings from players on the European wind sector regarding the strong challenge that competition from China could pose to the technological hegemony of Europe.
Dalian, the state holding company which has majority control over the shares of Sinovel, has confirmed its intention to generate 3.5 billion Yuan (approximately €0.4 billion) through an IPO of 10% of Sinovel’s shares on the Shanghai stock exchange. The IPO will underpin the commercial launch of the 3MW and 4MW wind turbines that Sinovel started to mass produce in its plant in Jiangsu a few months back. These machines complement Sinovel’s 1.5MW machine. According to provisional industry estimates, around 2,000 units of this turbine were sold during 2009. the company is also preparing to build a new industrial complex in the Port of Changxing.
Meanwhile, Goldwind, licences and, since a year ago, owner of the Germany technology, vensys (used by Eozen, Enerwind amd ReGen Powetech), has confirmed to local press that it plans on floating on the Hong Kong stock exchange to generate around $36 million (€26 million) from the sale of up tom 15% of its share capital. The company explains that this is the first step to internationalise its business.
In turn, several sources report that Huangeng aims to collect €1.5 billion (€1.1 billion) from an IPO on the Hong Kong stock exchange. Huaneng will use the funds to acquire new wind farms which, one observer reports, will include 550MW in the provinces of Hebei and Gansu.
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