Top 5 Dow Dividend Stocks To Invest In Right Now: China Ming Yang Wind Power Group Ltd (MY)
China Ming Yang Wind Power Group Limited incorporated on February 26, 2009, is a wind turbine manufacturer in China, focusing on designing, manufacturing, selling and servicing megawatt-class wind turbines. The Company's products consist of basic models of wind turbines, each with a rated power capacity of 1.5 megawatt (MW); wind turbines with a rated power capacity of 2.0MW, and 2.5/3.0MW SCD wind turbines. Each product type may be installed with one of three rotor blade models depending on the location and wind conditions. As of December 31, 2012, the Company had entered into sales contracts with 37 end customers to deliver 3,730 units of its wind turbines.
It cooperates with aerodyn Energiesysteme to develop its 1.5 megawatt wind turbines and share intellectual property rights. It also has obtained licenses from aerodyn Asia Co., Ltd. (aerodyn Asia) to manufacture and distribute wind turbines utilizing its super-compact drive (SCD) technology, with a rat ed power capacity of 6.0MW.
The Company's customers are the Chinese state-owned power producers which include Huaneng, China Datang, Huadian, China Guodian Corporation, and China Power Investment Corporation (CPIC) or their alternative energy subsidiaries, such as China Longyuan Power Group Corporation Limited (Longyuan), a subsidiary of Guodian, and China Datang Corporation Renewable Power Co., Limited (Datang Renewable), a subsidiary of China Datang. It also sells wind turbines to regional alternative energy investment companies, regional power producers and wind farm operators in the private sector. Its facilities are located in Zhongshan, Tianjin, Jilin, Rudong, Dali and Inner Mongolia in China.
The Company produces megawatt-class, grid-connected, horizontal-axis wind turbines, equipped with a double-fed! constant frequency induction generator, which is a design of the generator that enables the generator to produce electric current of a const ant frequency as the shaft rotates at varying speeds causing! the generator rotor to rotate at varying speed. It offers 1.5 megawatt turbines specially designed and developed for the wind and weather conditions and power grids in China. Its 1.5 megawatt wind turbines are equipped with rotor blades with a post-installation diameter of 77.1 meters, 82.6 meters or 89.0 meters.
The Company has license rights under a license agreement from aerodyn Asia to manufacture and distribute 2.5/3.0MW SCD wind turbines and 6.0MW SCD wind turbines in China. The Company is focused on developing 3.8MW wind turbine model for larger multi-megawatt wind turbines.
The Company competes with Sinovel, Goldwind, Dongfang Electric, United Power, Vestas, Gamesa Corporacion Tecnologica S.A. and GE Energy.
Advisors' Opinion:- [By Garrett Cook]
In trading on Tuesday, industrials shares were relative leaders, up on the day by about 0.26 percent. Top gainers in the sector included Perceptron (NASDAQ: PRCP), up 10.9 percent, China Ming Yang Wind Power Group (NYSE: MY), up 4.8 percent.
- [By John Udovich]
Small cap Ocean Power Technologies Inc (NASDAQ: OPTT) just sank 34% on news that they have fired their CEO "for cause," meaning its worth taking a closer look at the stock to see if there is anything to salvage (shares were rising more than 6% in after hours) plus take a look at the performance of potential renewable energy related peers like Ormat Technologies, Inc (NYSE: ORA), Broadwind Energy Inc (NASDAQ: BWEN) and China Ming Yang Wind Power Group Ltd (NYSE: MY).
source from Top Stocks For 2015:http://www.topstocksblog.com/top-5-dow-dividend-stocks-to-invest-in-right-now-6.html
