Chinese, Indian groups collaborate on South Asian clean energy projects
Reliance Group and China Ming Yang Wind Power Group will develop up to 2,500 MW clean energy projects in India and other South Asian countries.
Ming Yang Wind Power has also entered into definitive deals with Reliance Capital Ltd and other related entities that form part of the Reliance Group.
The Chinese company’s Singapore subsidiary Ming Yang Holdings (Singapore) Pte Ltd has also entered into definitive agreements.
Ming Yang has also signed MoU with Reliance Power to co-develop a large portfolio of clean energy projects in India. Ming Yang Holdings also plans to set up a joint venture with Reliance Group Company Reliance Capital by subscribing to a significant stake in the share capital of Global Wind Power Ltd.
The Chinese group is also expected to provide total engineering, procurement and construction solutions. This also includes micro-siting, wind resource management studies, project financing, and other services for the projects for third parties and Reliance.
“The platform between Reliance and Ming Yang is expected to enable us to quickly capture and grow India and South Asia markets,” said Ming Yang Chairman and CEO Chuanwei Zhang.