"With the final loan proceeds in hand, we can now move forward with completing Phase II," said Mr. Jun Liu, Chief Executive Officer, China Wind Power. "This has been a long wait for our shareholders as tight credit conditions in China had caused unforeseen delays. Nevertheless, we now expect to have Phase II completed in short order."
When fully completed, Phase II will consist of 35 turbines and a combined capacity of 49.5 MW of renewable energy.
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 approximately 800 MW over five development phases. The Company’s common shares are listed on the TSX Venture Exchange under the symbol "CNW". The Company has approximately 63.9 million shares outstanding.