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China Goldwind ready for $1.5 billion IPO

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Chinese wind power producer Xinjiang Goldwind Science & Technology Co has chosen China International Capital Corp (CICC).

HONG KONG (Reuters) – China International Capital Corp (CICC) chosen as lead underwriter for a Hong Kong initial public share offering aimed at raising $1.5 billion in the first half of 2010, sources close to the plan said on Tuesday.

The strong post-IPO performance of China Longyuan Power Group Corp (0916.HK), the world’s fifth-largest wind power generator, could herald a wave of public offerings from Asia’s renewable energy sector.

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Source: Reuters

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  1. China has massively increased its wind installations to become the world’s second biggest market in 2009 . It has also managed to cultivate its local home grown industry to join the ranks of top 10 world turbine makers. Foreign dominance of China’s wind market has completely disappeared as the share had declined to 5%. Now Chinese wind equipment makers are spreading their wings outside their overcrowded home market with APower planning a massive wind farm in Texas.

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