2. Forward-looking statements
This presentation contains “forward-looking statements” within the meaning of
applicable securities legislation. Forward-looking statements may include financial
and other projections, as well as statements regarding future plans, objectives or
economic performance, or the assumption underlying any of the foregoing.
Forward-looking information involves significant risks, assumptions, uncertainties
and other factors that may cause actual future results or anticipated events to differ
materially from those expressed or implied in any forward-looking statements and
accordingly, should not be read as guarantees of future performance or results.
Accordingly, investors should not place undue reliance on any such forward-looking
statements. Further, any forward-looking statement speaks only as of the date on
which such statement is made, and we undertakes no obligation to update any
forward-looking statement or statements to reflect information, events, results,
circumstances or otherwise after the date on which such statement is made or to
reflect the occurrence of unanticipated events, except as required by law, including
securities laws.
2
3. About China Wind Power International Corp.
China Wind is uniquely
positioned to capitalize on
the growing demand for wind
energy in China
•3
3
4. A tremendous opportunity for following four main reasons:
Demand
China
Exclusivity
Du Mon County
Guaranteed
Power Purchase Agreement
Profitable
12-14% IRR, and higher for future projects •4
4
5. China Overview
• Rapid industrialization
• Looming energy shortage
• Facing one of the world’s biggest
environmental crisis
5
Source: IEA
7. We make it, they take it
Guaranteed demand
• National Renewable Energy Law, effective January 2006
• Grid is obligated to purchase all output!
for China Wind
• Heilongjiang Provincial Power Grid must buy our electricity
7
8. Our current focus: Heilongjiang Province
Beijing
Exclusive rights to
Shanghai Wind Power Generation
Du Mon County, Heilongjiang
Heilonjoang Province
Population: ~38 million
Annual electricity use by 2010*: 74 million MWh 8
* forecast 8
9. Favourable location
Power Grid <2km
Beijing
Shanghai
Wind Speed
70m: 6.9-7.5 m/s
Well Located
• Flat, solid ground
• Easy access with roads
and highways
9
10. Our portfolio
546 MW over 5
development phases:
Beijing
Shanghai
Included in power
grid master plan
Longer-term potential for
building out 1,150 MW
10
11. China Wind — Phase 1
Phase 1: 49 MW Phase 2: 49.5 MW Phases 3-5: 448.5 MW
Status Turbines Financing Completed
Commenced 26%
34 turbines equity
commercial
producing
Production 74%
power
Dec. 2009 debt
360M RMB (US$53M) of debt.
Interest rate: 5.94%
67 GWh generated by end of June 2010. 11
12. China Wind — Phase 2
Phase 1: 49 MW Phase 2: 49.5 MW Phases 3-5: 448.5 MW
Status Turbines Financing Completed
15 35.15%
Construction installed, equity
half way 20 on
65.85%
completed order
bank*
330 million RMB bank
loan has been approved
at a variable Interest rate.
12
13. Turbine Overview: Phase 1 and 2
DW1.0/56 HFDY1500/77 DT-1500
Two-Bladed Directly Driven Doubly Fed
4 30
Phase 1
Phase 1
Phase 2
6 10 19
Phase 2
(Installed) (10 installed)
56% of all globally installed wind power
equipment is manufactured in China (2007) 13
14. Phase 2: project timeline
Q1/09 Q3/09 Q4/09 Q3/10 Q4/10
Construction Equity Turbines Debt Construction
commenced financing installation financing completed
commenced. approved
All foundations
completed
14
15. China Wind — Phases 3 to 5
Phase 1: 49 MW Phase 2: 49.5 MW Phases 3-5: 448.5 MW
Status Turbines Financing (targeted)
30%
Phase 3 Phase 4 & 5 equity
close to get feasibility 299 turbines
final studies planned 70%
approval underway debt
Phase 3 projects (198MW) will be financed using EPC Contract.
15
16. Phases 3 to 5: project timelines
Phase 3 Phase 4 Phase 5
（Sino-Denmark)
~100MW ~150MW
198 MW
Q4/11 Q4/12 Q3/13
Construction Construction Construction
completed completed completed
Q1/11 Q1/12 Q3/12
Construction Construction Construction
commences commences commences
Construction phase ~ 12 months •16
16
17. Financial Results for Phase I
Revenue Adjusted EBITDA
(millions) (millions)
$1.2 $1.2
$0.8
$0.6
$0.5
$0.5
Q3/FY10 Q4/FY10 Q1/FY11 Q3/FY10 Q4/FY10 Q1/FY11
• Phase I Commercial production begun in Q4 FY2010.
• Adjusted EBITDA excludes stock-based compensation 17
18. Business model: costs and revenues*
Total ~49M Project Cost Total Revenue for 49MW
(including installation)
Phase 1 & 2 * Phase 3 **
Electricity Production
• Production: 110,743 MWh/yr
Turbines/towers: US $53.6M US $46.8M
• Power Price: US$89/MWh
Construction: US $13.1M US $10.5M • Revenue: US$8.5M /yr
• 20 Years PPA
Interest: US $4.1M US $2.9M
Other: US $2.2M US $4.2M * Based on 20 years average for the
Phase I (49MW) or II (49.5MW).
** Based on 20 years average for
Total: US $73.0M US $64.4M
(~12% lower) one 49.5 MW wind farm of the
Phase 3 (total 4 wind farms,
198MW).
18
19. Targeted project economics for Phase I & II *
(20 year average)
Installed capacity 49MW
Capacity factor 26.31%
Revenue: wind power US $8.5M
Revenue: carbon credits US $1.8M
Total revenue US $10.4M
EBITDA US $8.3M
Total profit after tax US $3.2M
Annual cash flow to equity US $3.9M
Capital cost/MW Levered equity IRR
US $1.5 million 12-14%
19
* Based on average 49 MW project for Phase I and II.
20. Recent Milestones
• Completed construction of Phase 1
• Commenced commercial production
• Generated more than 67 GWh to date
• Total sales of $1.2 million for Q1 FY2011
• EBITDA* of $598,000 for Q1 FY2011
• Approval of Grid connection for Phase 3.
*Excludes stock compensation charges
20
21. Management and Board of Directors
Jun Liu Chief Executive Officer and Director
• 20 years of experience including executive positions with subsidiary companies of
Daqing Petroleum Administration Bureau, China National Petroleum Corp.
Wendell Zhang Chief Financial Officer
• 9 years public accounting experience with Ernst & Young China and Canada.
Walter Huang Senior Vice President and Director
• Co-founder and partner of a U.S. investment firm and many years of investment
and financial industry experience, especially in China.
Zhijie Song Chief Engineer
• 30 years experience in the power industry and has held a variety of technical
executive positions.
21
22. Management and Board of Directors
Honliang Xu
Independent Director
• Chairman of the Board of China Fulin Wind Power Development Corp.
Linda Dundas
Independent director
• Risk Management and Financial Sector Regulation Expert with Royal
Bank of Canada。
Joshua Gerstein
Independent Director
• Merchant banker with Cervello Capital
22
