CleanTech Innovations receives wind energy order in China

CleanTech Innovations, Inc. (Nasdaq: CTEK), a U.S. company and a market leader in China’s clean technology solutions in the wind energy industry, announced today that CleanTech has won a $4.4 million (including VAT tax) initial contract to supply wind towers in 2011 to a subsidiary of China Guodian Corporation, one of the largest power companies in China and a Fortune Global 500 company. China Guodian has been a long-standing customer of CleanTech.

China Guodian is the largest wind power operator in Asia and the No.5 largest in the world. The capacity of its tidal power generation ranks 3rd in the world and 1st in Asia, according to China Guodian’s English website at At the end of June 2010, China Guodian had total assets of US$68.5 billion. Large state-owned energy companies such as China Guodian are the ultimate customers and integrators of the wind energy industry in China.

Bei Lu, Chairman & CEO of CleanTech commented: ‘Today’s contract announcement represents approximately 20% of CleanTech’s entire 2010 revenues. CleanTech is in a strong financial position to continue to bid on new contract opportunities and anticipates winning additional wind tower supply contracts throughout 2011. We look forward to delivering a year of record earnings growth in 2011 for our shareholders.’

CleanTech Innovations, Inc. (Nasdaq: CTEK) is a U.S. public company with its primary operations in China. CleanTech designs and manufactures high performance clean technology products that promote renewable energy generation, energy savings and pollution reduction. CleanTech’s products include wind turbine towers, bellows expansion joints and pressure vessels, which are broadly used in the wind power, steel, coking, petrochemical, high voltage electricity transmission and thermoelectric industries. CleanTech’s longstanding customers include China Guodian, HuaNeng Energy, Sinosteel and other industrial companies.