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    002202   CNE1000008S5

XINJIANG GOLDWIND SCIENCE & TECHNOLOGY CO., LTD.

(002202)
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Xinjiang Goldwind Science & Technology : Pak company signs deal with Chinese wind turbine producer

06/13/2020 | 08:17am EDT

A major developer of wind energy in Pakistan, ACT Wind (Pvt) Limited, has signed a contract with Xinjiang Goldwind Science Technology Co., Ltd. to acquire 50MW suite of wind turbine for the Phase II ACT project. The suite is comprised of 20 turbines with each having a capacity of 2.5MW.

It's the second time the two companies stroke a deal and the first can date back to four years ago when ACT project Phase I of 30MW adopted Goldwind's wind turbines, which have been in secure and stable operation since then, China Economic Net reported on Friday.

ACT project Phase I is first of the many power projects jointly owned and operated by Tapal Group, Akhtar Group and Ismail Industries.

The plant comprises of 20 wind turbines having a combined capacity to generate 30MW of electricity (each having a capacity of 1.5 MW). The project achieved its Commercial Operations Date on 8th October, 2016. The ACT project Phase II is set to be located in Jhimpir, known as 'the pathway of wind' in Sindh province.

Goldwind was the first Chinese wind turbine producer to enter the Pakistani market in 2013. It has customized high-temperature wind turbine for Pakistan that boasts average availability of over 99 per cent in a long term.

Meanwhile, Goldwind has cultivated local talents with knowledge and skills on operation, maintenance and examination of wind power plant.

With an edge in providing products that feature high-adaptability to the environment and stable operation, Goldwind has grown to become a model for local wind power projects.

So far, Goldwind has played a part in the investment and operation of 6 power plants in Pakistan. With the order of ACT Phase II project to be implemented, new installment of wind generators in Pakistan provided by Goldwind will reach 150MW by 2022 and the total installment will register 477MW. Such an amount of environment-friendly wind energy is estimated to provide 1.5 billion (Kwh) of electricity, alleviating the power shortage in a greener way.

As the China-Pakistan Economic Corridor (CPEC) lays a solid foundation for the improvement of infrastructure in Pakistan, Goldwind will bring more high-quality products and technologies to this country and support its development with reliable, sustainable and affordable renewable energy.

© Pakistan Press International, source Asianet-Pakistan

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P/E ratio 2021 13,9x
Yield 2021 2,18%
Capitalization 49 326 M 7 709 M 7 709 M
EV / Sales 2021 1,46x
EV / Sales 2022 1,40x
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Free-Float 59,7%
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Average target price 16,42 CNY
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NameTitle
Zhi Gang Cao President, General Manager & Executive Director
Gang Wu Chairman
Zong Wei Han Chairman-Supervisory Board
Jian Ping Yang Independent Non-Executive Director
Wei Wei Independent Non-Executive Director