China Wind Power International Corp. (TSX-V: CNW) announced that the common shares of the Company will begin trading on the TSX Venture Exchange today–August 5, 2009.
The Company will trade as a Tier 1 Issuer under the ticker symbol "CNW".
China Wind Power International Corp. is an Ontario company that aims to capitalize on the demand for wind power in
China. The Company indirectly holds the exclusive rights for wind
energy development in Du Mon County.
Du Mon County is located in the center of "Harbin–Daqing–Qiqihar
Industry Corridor" in Heilongjiang Province. Recently completed wind
assessment studies in Du Mon County demonstrated potential installed
capacity of 860 megawatts (MW) of wind energy developable over an area of 220 square
km with wind power density of 300-450 Watts per square meter, the company said in a release.
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 said it is currently constructing its first two wind farms,
representing aggregate capacity of 98.5MW, with construction of the
first 49MW wind farm over 50% completed.
"Our commencement of trading on the TSX Venture Exchange better positions us to capitalize on the growth in demand expected for wind power in China," said Mr. Jun Liu, CEO of China Wind. "The Chinese government has mandated that renewable energy must fulfill a portion of China’s increasing energy consumption. With our existing operations, signed power purchase, grid connection and dispatching agreements in place, and our current plans for building out capacity of 546 MW, we represent an opportunity for Canadian investors to share in the substantial growth expected for wind power in China."
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