Why You Should Hold off on This Wind Energy Stock

June 18, 2014 by  
Filed under Green Energy News

Scott Levine

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Source: Ming Yang Wind Power Group


When it comes to China, the spotlight usually shines on the solar companies — especially in the past week with the Commerce Department’s decision to raise duties on solar panel imports from Chinese manufacturers. However, in China, the government is working on developing its wind power assets, and one company that is reaping the benefits of that initiative is Ming Yang Wind Power Group (NYSE: MY  ) . 

Following its selection in winning a major offshore project, Chuanwei Zhang, Chairman and CEO of the company said, ”Ming Yang expects to continue to leverage the off-shore opportunity in China and deliver our innovative Super Compact Drive (“SCD”) wind turbine generators as an effective solution for off-shore wind power projects in China and beyond.” Is this the beginning of a big run for the company or just a distraction from the company’s major problems? Let’s take a look.

 

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