Chinese CEO opens market for Toronto Stock Exchange

TORONTO, Nov. 13 (Xinhua) -- Jun Liu, CEO of China Wind Power International Corp., and Robert Fotheringham, Senior Vice President of TMX Group, opened the market for Toronto Stock Exchange (TSX) and TSX Venture Exchange on Friday.

"We gather to celebrate the success of a wonderful company -- China Wind Power International Corporation," said Fotheringham. "Canadian Finance Minister James Flaherty, while in China earlier this year to lead a trade mission, used the example of China Wind Power ... when he spoke about the future and the great opportunity for China and Canada to work together."

China Wind Power indirectly holds the exclusive rights for wind energy development in Du Mon County, Heilongjiang Province of northeast China. It was the sixth Chinese company listed on TSX Venture Exchange in 2009, and started to trade on Aug. 5 under the stock symbol CNW.

The company announced on Thursday the signing of letters of intent to acquire two wind farm sites -- one in Dongning County, in the eastern part of Heilongjiang Province, and the other in Anda City in southwestern Heilongjiang. Both wind farm sites to be acquired have obtained all necessary government pre-approvals and are in the process of obtaining final approvals.

"The acquisition of these two development sites would extend our wind energy potential beyond that of Du Mon County," said Liu." We would expect to enter definitive agreements to purchase these two sites upon the sites receiving final government approvals for wind energy development."

The company also announced that it has amended its Wind Power Base Master Plan for wind energy development in Du Mon County based on a recent wind assessment of an expanded area of 612 square kilometers, which demonstrated wind energy potential of 1,150 MW for the area.

The company said that its expanded Master Plan has obtained pre-approvals from different government agencies and has been included into the newly compiled Heilongjiang Province Renewable Energy Development Plan. The final approval for the expanded Master Plan is expected to be obtained in June 2010.

The approval of the expanded Master Plan would enable the company to build out capacity of 200 MW to 400 MW each year for the next three to five years.

"China Wind Power International is at the center of what I believe to be the most exciting segment of the market today," said Fotheringham.