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Xinjiang Goldwind Science & Technology Co., Ltd. (Goldwind) has announced its annual results for the year ended 31 December 2011. The Group generated revenues of RMB12,755.97 million and net profits of RMB717.99 million.

The Group installed 3,600MW in China during 2011, which represents a domestic market share of 20.4%. Revenue for the Group is generated from three business segments: WTG R&D, manufacturing and sales, wind power services and wind farm investment, development and sales. At the end of 2011, the Group’s total installed capacity in China was 12,678.85MW, including 6,217 units of 1.5MW WTGs and 46 units of 2.5MW WTGs. The Group commenced commercial production of the 2.5MW WTGs and progressed as scheduled with the development of specialized 2.5MW WTG models. The 103/2.5MW and the low wind speed 106/2.5MW WTG models, both onshore models, were installed and put into operation. A prototype of the 109/2.5MW unit designed for offshore installation was assembled. Four prototypes of the 3.0 MW hybrid PM WTG were installed during the year and are expected to commence operation in the first quarter of 2012. Research and development of a 6.0MW offshore WTG unit progressed as scheduled, with trial production of key components completed during the year under review and a prototype expected in the first half of 2012. As at 31 December 2011, the Group had completed the maintenance of over 6,000 cumulative units of WTGs. The Group’s wind power services segment generated revenues of RMB362.66 million in 2011, an increase of 23.91% compared to 2010. The wind farm investment, development and sales segment sold all or part of its equity interests in 7 wind farm subsidiaries (totaling 9 wind power projects), with a combined attributable installed capacity of approximately 244.8MW. As of the end of the reporting period, the total installed capacity of completed wind farms was 1,338.0MW and the attributable installed capacity was 572.2MW. The Group also had wind farms under construction with a total capacity of 622.5MW and an attributable capacity of 558.3MW. The Group currently has operations on six continents. Goldwind achieved international sales of RMB1,208.92 million, in the USA and a number of emerging wind markets. In addition to selling WTGs directly to global customers, the Group also invests in and constructs wind power projects abroad. International sales represented 9.48% of total sales in 2011, up from 2.14% in 2010.
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