China WindPower Group Ltd said on June 20 it had received the green light from the Hong Kong stock exchange to spin off and list its wind power tower tube manufacturing operations.

Via the move, the company seeks to focus on its core activities and to more efficiently allocate financial resources. China WindPower’s core operations include the development of wind farm projects and the provision of engineering and construction, operations and maintenance and other services to wind power facilities.

At present, two wholly-owned units of the company are in charge of its wind power tower tube business. The company plans to reorganize it so that its subsidiary Tianhe New Energy Equipment Ltd becomes the holding company. As part of the plan, Tianhe is to gradually expand its business to include solar power equipment wind turbines  manufacturing.

The spin-off and listing are pending the go-ahead from China WindPower and Tianhe’s boards.

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