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CNW China Wind Power International Corp.

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Share Name Share Symbol Market Type
China Wind Power International Corp. TSXV:CNW TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

China Wind Power Receives Final Loan Proceeds for 49.5 MW Phase II Wind Farm

13/06/2012 6:45pm

Marketwired Canada


China Wind Power International Corp. (TSX VENTURE:CNW) ("China Wind Power" or
the "Company"), an independent wind power producer in China, has provided an
update with regards to its loan agreement with the Agricultural Development Bank
of China (the "Bank"). The Company confirms that it has received the final 70
million Yuan under the original 330 million Yuan loan approved by the Bank.


"With the final loan proceeds in hand, we can now move forward with completing
Phase II," said Mr. Jun Liu, Chief Executive Officer, China Wind Power. "This
has been a long wait for our shareholders as tight credit conditions in China
had caused unforeseen delays. Nevertheless, we now expect to have Phase II
completed in short order."


When fully completed, Phase II will consist of 35 turbines and a combined
capacity of 49.5 MW of renewable energy. 


About China Wind Power International Corp.

China Wind Power International Corp. is an Ontario company that is uniquely
positioned to capitalize on the growing demand for wind power in China. The
Company indirectly holds the exclusive rights for wind energy development in Du
Mon County, Heilongjiang Province, which has a demonstrated potential installed
capacity of 1,150 MW of wind energy developable over an area of 612 square km.
While 1,150 MW represents the Company's long-term potential for wind power in
the area, its current plans are for building out approximately 800 MW over five
development phases. The Company's common shares are listed on the TSX Venture
Exchange under the symbol "CNW". The Company has approximately 63.9 million
shares outstanding.


For more information and the latest updates on China Wind Power International
Corp., visit our Facebook Page at facebook.com/ChinaWindPower or follow
@ChinaWindPower on Twitter. 


Caution Regarding Forward-Looking Statements

Certain statements that are not historical facts made in this press release may
be forward looking statements subject to risks and uncertainties. Statements
containing words such as "will", "could", "expect", "may", "anticipate",
"believe", "intend", "estimate", "plan" and other similar expressions are
forward-looking statements that represent management's beliefs at the time the
statements are made and are based on certain factors and assumptions including
wind farm construction and commercial production schedule, output and capacity,
revenue and earnings expectations and market potential. These forward-looking
statements are subject to a variety of risks and uncertainties and other factors
that could cause actual events to differ materially from those projected in
forward-looking statements. Important factors that could cause actual results to
differ materially from the Company's expectations include uncertainties
involving the availability of financing; fluctuations in currency exchange
rates; uncertainties relating to economic and market conditions; uncertainty of
estimates of capital and operating costs; the need to obtain additional
financing to develop the projects and uncertainty as to the availability and
terms of future financing; the possibility of delay in construction projects and
uncertainty of meeting anticipated program milestones; uncertainty as to timely
availability of permits and other governmental approvals; and other risks and
uncertainties disclosed in the information circular dated November 5, 2010,
which is available at www.sedar.com under the Company's profile. Except as
required by applicable securities laws, the Company undertakes no obligation to
update any forward looking statement to reflect events or circumstances after
the date on which such statement is made.


1 Year China Wind Power International Corp. Chart

1 Year China Wind Power International Corp. Chart

1 Month China Wind Power International Corp. Chart

1 Month China Wind Power International Corp. Chart