(Yicai Global) April 25 -- The stock of China's Ming Yang Smart Energy Group has risen by the daily limit after the firm won a CNY8.6 billion (USD1.3 billion) contract to provide wind turbines for a big wind farm in China, following another new contract earlier this month.
Ming Yang will supply Shanwei offshore wind farm with all the needed turbines, 255 sets of them, project constructor Nuclear Power Engineering said in a statement yesterday. The contract winner's share price [SHA: 601615] rose 10 percent today to CNY14.2 (USD2.10).
The contract amount equals to more than two times that of Ming Yang's audited revenue for 2017, and it will show in this year's performance, the statement added.
China General Nuclear Power Group's Shanwei wind farm will have a total installed capacity of 1.4 million kilowatts with an estimated construction period of 30 months. The first batch of turbines will start operation after 13 months of construction, public information shows.
Zhongshan-based Ming Yang won another bid earlier this month regarding Inner Mongolia's Ulanqab wind park, one of the world's largest onshore wind farms. The energy firm will provide 325 sets of wind turbines worth CNY4.7 billion for the project that has an estimated total capacity of 6 million kilowatts.
Editor: Emmi Laine