SHENYANG, China, July 8 /PRNewswire-Asia/ -- NF Energy Saving Corporation of America (OTC Bulletin Board: NFES; "NF Energy"), a Chinese leader in energy efficient flow control systems, today announced that a shipment of its wind equipment, including hub, forward engine room foundation, bearing seat, etc. was successfully installed in February 2009 and has been operating smoothly for over 3,000 hours to date at Dali wind farm in Inner Mongolia, one of the 4 largest wind farms in China with total investment of US$351 million and total installed capacity of 300MW.
"We have seen tremendous customer demand for wind equipment since last year," commented Mr. Li Gang, Chairman and CEO of NF Energy. "NF Energy will speed up its development of wind power capacity to capitalize on this fast growing market. We have started construction of a new energy base in Tieling City of Liaoning province in Q1 of 2009, which will dramatically expand the Company's manufacturing capacity for wind power equipment to meet growing domestic demand."
Total wind power generating capacity in China is currently 12GW but the country, which is growing at the fastest rate among all the economies in the world, wants to raise it to 20GW by 2010. China expects to have an annual wind power growth rate of 20 percent. In May 2009, China increased its goal for wind power generation capacity by 2020 to 100GW, from the original 30GW that the Chinese government set in 2007.
China is currently the fourth largest producer of wind energy in the world, after the United States, Germany and Spain and is aiming to have 40 percent of all its energy originate from renewable energy sources by 2050. According to the Global Wind Energy Council, China will become the biggest growth market for wind power generating capacity this year, ahead of the United States.
About NF Energy Saving Corporation of America
Website: http://www.nfenergy.com
NF Energy Saving Corporation of America (OTCBB: NFES - News) is a
China-based provider of integrated energy conservation solutions utilizing energy-saving equipment, technical services and energy management
re-engineering project operations to provide energy saving services to clients. Headquartered in Shenyang city of China, the Company currently has 220 employees and several proprietary energy saving technologies and patents.
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'forward-looking statements' as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes, expects, anticipate, optimistic, intend, will" or similar expressions. Such forward-looking statements involve known and unknown risks and uncertainties that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with and available from the Securities and Exchange Commission. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
