China Longyuan To Spend $13B on Wind Power

China Longyuan Power Group Corp (0916.HK) intends to spend roughly 92 billion yuan ($13 billion) developing wind power over the next five years, according to Bloomberg.

The company wants to become the world’s biggest wind power producer by installing a minimum of 16,000 megawatts (MW) in China and abroad. 

In December 2009, the company raised HK$16.7 billion ($2.2 billion) in one of the largest cleantech IPO’s in history. 

The company is currently the world’s fifth largest wind power producer with installed capacity of about 4,500 MW. The company expects to raise that capacity to 6,500 by the end of the year. 

Read the Bloomberg story at the link below.