CWP to increase investment by $74.7M

China WindPower raises US$74.7 million through share placement at the placing price of US$.1097 per share for 700 million shares.

The company will use the net proceeds for the acquisition and development of additional onshore and offshore wind farm resources; expediting wind farm investment and increase in wind power installed capacity; and enhancement of facilities and capabilities of EPC operation and maintenance services.

The proceeds will also be used to replenish cash resources and working capital.

CWP tapped ABN – AMRO to be the underwriter of the share offering.