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Vol. IX Issue. 4
Ming Yang agrees to buy 55 pc stake in Ambani's global wind power

10 July 2012

July 4, 2012. China Ming Yang Wind Power Group Ltd. (MY), China's third-largest wind-turbine maker, will buy into Indian billionaire Anil Ambani's wind energy interests as a weakening market at home pushes manufacturers abroad. Ming Yang's Singapore unit will own 55 percent of Global Wind Power Ltd., owned by Ambani's Reliance Anil Dhirubhai Ambani Group Ltd., after buying new shares. Chinese wind-turbine makers, led by Sinovel Wind Group Co. and Xinjiang Goldwind Science Technology & Co., sell more than 95 percent of their machines to a shrinking, oversupplied home market and are looking to expand. India, benefiting from slowing demand in China and policy uncertainty in the U.S., has become the third-largest market in annual turbine sales.

      
 
 
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