"The completion of Phase 1 is obviously a very significant milestone for our Company," said Mr. Jun Liu, Chief Executive Officer of China Wind. "To achieve this milestone, we reconfigured our original turbine allocation planned for Phase 2 to mitigate a temporary turbine supply constraint we were experiencing under our original allocation planned for Phase 1. Importantly, regular commercial production for Phase 1 is expected to begin on schedule."
The Company currently has two 1.5 MW wind turbines installed under its plans for Phase 2, which will represent installed capacity of 49.5 MW when completed. An additional seven wind turbines are to be installed in November. Management expects that Phase 2 will be completed and in production before May 2010.
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 860 MW of wind energy developable over an area of 220 square km. While 860 MW represents the Company’s long-term potential for wind power in the area, its current plans are for building out eight wind farms representing capacity of 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.