China Wind Power International Corp. (TSX-V: CNW - News; "China Wind" or the "Company"), today reported its financial results for its third quarter ended December 31, 2009. All figures are reported in Canadian dollars.
Third quarter highlights:
- The Company generated $1.3 million of wind power revenue during the quarter, including $0.8 million during the testing, tuning and calibration of Phase 1, and $0.5 million since Phase 1 commenced commercial production at the end of November 2009
- The Company had a net loss of $0.6 million, or $0.011 per share, for the quarter, contributing to an accumulated deficit of $5.4 million.
- - Completed construction of Phase 1 (installed capacity of 49 MW);
Quote from Mr. Jun Liu, Chief Executive Officer of China Wind.
"The third quarter was marked by very significant milestones for China
Wind," said "During the quarter, we completed construction and completed the testing, tuning and calibration of our turbines for Phase 1. Most importantly, Phase 1 commenced commercial production of wind energy at the end of November, which was slightly ahead of schedule. Phase 1 has now generated more than 42.4 million
KWh of electricity by the end of January 2010."
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.
