China Ming Yang Wind Power Group has completed its acquisition of 99% stake in RENergy for RMB916.146m.

China Ming Yang Wind Power Group, a leading wind energy solution provider in China, has completed its acquisition to acquire a 99% stake in RENergy, a Cayman Islands company for RMB916.146m ($147.7m). Ming Yang, one of the world’s largest wind turbine manufacturers, will integrate RENergy’s patented electrical control system technologies into Ming Yang’s existing product offerings, allowing Ming Yang to evolve further to become a provider of comprehensive wind energy solutions and to address a wider range of its customers’ requirements. For instance, Ming Yang will be able to provide services to upgrade wind farms in order to generate more electricity and to reduce overall costs of generating electricity borne by customers in different locations and under different weather conditions. “The acquisition of RENergy marks a milestone in our transition to become a technology-driven, service-centric provider of comprehensive wind energy solutions. We are proud to announce that, as a result of this acquisition, in addition to developing WTG model designs, Ming Yang is expected to be capable of developing all major WTG components in-house, including blades, offshore super compact drive solutions and electrical control systems. Unlike most WTG manufacturers that rely solely on external suppliers for the manufacture, research and development of core components.” Chuanwei Zhang, Ming Yang Chairman and Chief Executive Officer.