SOURCE: GC China Turbine Corp.

GC China Turbine Corp.

February 01, 2010 09:32 ET

GC China Turbine Corp. Updates Dafeng Offshore Wind Power Project

NEW YORK, NY--(Marketwire - February 1, 2010) - GC China Turbine Corp. (OTCBB: GCHT) (the "Company" or "GC China") a leading Chinese manufacturer of twin blade wind turbines wishes to provide an update of events regarding the Dafeng Offshore Wind Power Project of Jiangsu Province, China.

As previously announced in November, GC China has entered into preliminary agreements with the local authorities with the intent to develop a local manufacturing base from which to build large utility scale turbines for offshore and coastal use in the area. Initial plans envision several local offshore wind farms, each offering 500 megawatt (MW) capacity. Initial estimates by the Company place the value of potential orders for a project of this scale in excess of US $344 million (2.35 billion Yuan).

The company is now pleased to announce that procedures for the establishment of joint venture opportunities are ongoing and has led to commitments obtained from the local government for an initial 500MW offshore wind farm. This first phase of the regional master plan, if approved, is estimated to include 50 turbines of 1.0MW. At later stages, the wind farm will also synchronously utilize the new high output models of 2.5MW and 3.0MW currently in development at GC China's European R & D facility.

The project is targeting a three phase development plan with options for additional capacity engineered into each stage should increased demands warrant added scope. The Company is confident it can accomplish its engineering and environmental assessments and receive the necessary approvals for the first phase 100MW offshore wind farm during 2010.

Momentum for the project has increased through the use of the widely adopted "wind resource model" which provides for wind turbine manufacturers to directly obtain development rights for high-quality wind farm projects and then transfer the right of management of those wind farm projects to electrical generation companies who subsequently offer guarantees to place purchase orders with the wind turbine manufacturers in exchange for certain rights at the previously developed locations.

In 2009, GC China announced its aims for future strategic planning under the wind resource model, with a focus on creating wind resource strategies targeting known development regions so as to reserve those locations for future marketing and development alliances. The Company's strategic plan was adopted in 2009 through a demonstration of the model held in conjunction with leaders and experts from the Chinese Ministry of Science and Engineering and Information Department. Company Management is extremely pleased with the smooth progress on all fronts and believes that the many marketing objectives for 2010 - 2015 will be successfully achieved.

Additional details regarding the Company and its business, financial condition and management of GC China and related parties are filed as part of the Company's continuous public disclosure as a reporting issuer under the Securities Exchange Act of 1934 filed with the Securities and Exchange Commission's ("SEC") EDGAR database.

About GC China Turbine Corp. (OTCBB: GCHT)

GC China is a leading manufacturer of state-of-the-art 2-bladed wind turbines based in Wuhan City of Hubei Province, China. The Company holds a license to manufacture a groundbreaking technology which meets rigorous requirements for low-cost and high reliability. The technology was developed through a 10 year European research project costing over US$75 million. GC China's launch product is a 1.0 megawatt ("MW") utility scale turbine with designs for a 2.5MW and 3.0MW utility scale turbine in development. The Company's initial efforts have been rewarded with contracts of approximately US$135 million to-date. For more information visit: www.gcchinaturbine.com

Notice Regarding Forward-Looking Statements

This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, completion of definitive agreements with local and provincial governments, wind farms and utility companies, number of wind turbine systems ordered, manufactured, delivered and installed, the Company's future strategic plans, the outlook for the Company's markets and the demand for its products, estimated sales, the development, costs and results of new business opportunities. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects and development stage companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.

ON BEHALF OF THE BOARD
GC China Turbine Corp.
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Marcus Laun, Director

For more information visit our website at: www.gcchinaturbine.com

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