November 23, 2010 08:31 ET



- Schedules Annual General Meeting for December 2 in Toronto -

TORONTO, Nov. 23 - China Wind Power International Corp. ("China Wind" or the "Company") today announced that it has closed a non-brokered private placement offering of 2,408,131 common shares of the Company at a price of $1.80 CDN per share for gross proceeds of C$4,334,636.

The Company's current largest shareholder Ruihao Trust subscribed for 950,403 shares under the Offering, representing approximately 39.47% of total shares issued through the private placement. Certain other directors and senior officers of the Company also subscribed for 1,457,729 shares under the Offering, representing 60.53% of total shares issued through the private placement. The securities issued as a result of the private placement are subject to a four-month hold period from the date of issue.

Proceeds from the offering will be used for the construction of Phase 2 of the Company's wind farm development project, as well as for working capital and general corporate purposes. No commissions will be paid in connection with the private placement.

The Offering was made as a condition of an approximate CDN $50 million banking loan arrangement that the Company is currently in the final stages of processing. China Wind Power will use the funds of the loan to complete construction of Phase 2 of its planned five phase wind farm development project.  When fully completed, Phase 2 will consist of 35 turbines and a combined capacity of 49.5 MW of renewable energy.  China Wind is committed to completing a five phase wind farm in 2014 that will ultimately provide 546 MW of capacity

Annual General Meeting

The Company also announced that its annual general meeting of shareholders will be held on December 2 at 4:00 pm at the Hilton Hotel in Toronto. Proxy materials have been distributed to shareholders. Additional information can be found on the Company's SEDAR profile.

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 546 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, visit our investor relations blog at or follow us on Twitter at

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 May 29, 2009 relating to the Company's reverse take-over with Berkshire Griffin Inc., which is available at www.sedar.comunder 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.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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