News

Power Utility

Staff Reporter

, India

Published:

13 years ago

Sinovel’s to expand wind capacity with IPO proceeds

Sinovel intends to use the proceeds of its IPO to expand wind power installed capacity. It also plans to beef up its research and development capability for 6-megawatt turbines.

According to a report from Reuters, Sinovel’s profits are expected to grow about 30 percent this year, which means the IPO range values the company at around 20 times P/E ratio.

China has been doubling installed wind power capacity every year for the past several years as it pushes ahead to develop the sector, with some of the $1.5 trillion investments over the next five years earmarked for the green sector.

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South Korea needs faster offshore wind permitting, says GWEC

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