The firm’s subsidiary Ming Yang Wind Power signed Engineering, Procurement and Construction (EPC) contracts with a joint venture between developers W. Power and A1 Development EOOD in December 2011.
Yesterday the first batch of three MY1.5MW turbines were shipped under the deal, for a 4.5MW pilot project in Somovit. The pilot project is expected to be completed and commissioned by July 2012.
MingYang will also supply and build the 120MW Milkovitsa project, which is scheduled to commence in the second half of 2012.
Since its IPO on the New York stock exchange in September 2010, Ming Yang has pursued a policy of international expansion. The firm’s chief executive Chuanwei Zhang today said the company was specifically targeting business in East Europe, South Asia, South Africa and South America.
"This [Bulgarian deal] represents a significant milestone of Ming Yang's overseas market development, marking an important step in extending our footprint in mainstream European markets," added Zhang.
In October 2011, Ming Yang won 5 billion U.S. dollars loans from China Development Bank mainly to explore overseas market.
Ming Yang expects to further tap overseas markets, including East Europe, South Asia, South Africa and South America.
.png)
.png)
