Chinese turbine maker Mingyang and Indian Utility Giant Reliance has joint hands to build 2.5 GW of wind power plants through out India.
Under terms of the deal, Ming Yang will invest around $25million into Global Wind Power, a Reliance Capital subsidiary, in exchange for equity. Ming Yang Singapore will take a significant stake – reportedly 55 per cent stake in Global Wind Power Limited (GWPL) which is a Mumbai-based turbine manufacturer. GWPL makes turbines of up to 2.5 MW size at its plant in the industrial hub of Silvassa, about 180 km north of Mumbai.
Under the terms Chinese wind turbine maker Ming Yang will conduct the engineering, procurement and construction while Reliance will facilitate the developments and providing local market support.
