$1.5bn, China's Cleantech IPOs tap into Honkong and NY stock market

Chinese Wind turbines targeting $2.2bn total IPO

• Xinjiang Goldwind Science & Technology Co

$1.2 billion Hong Kong initial public offering in June,

is reviving its plans with a $1bn Hong Kong IPO in October

Pre-IPO investment opportunities

Expansion-stage companies 2y away from IPOs

"With pre-IPO investment opportunities also unreasonably priced, we like so-called expansion-stage companies that are one to two years away from IPOs," said Chris Rynning, chief executive officer of Origo Partners, a London-listed private-equity firm based in Beijing, noting that many publicly listed earlier-stage clean-technology firms are trading between 10 and 20 times their sales.

"Expansion-stage companies typically have commercially scaled their technologies but need capital to grow and often are at a tipping point in terms of sales and profit," Mr. Rynning said.

There is no denying that renewable energy has promise. The cost per unit of electricity generated by solar panels is coming down 20% per year, meaning it could reach levels charged by coal-fired electric firms in about five years, said Tim Buckley, portfolio manager at Sydney-based clean-energy fund house Arkx Investment Management.

http://www.goldwindglobal.com/web/news.do

• Mingyang Electric

$500m IPO U.S

• China Suntien

renewable-energy division of Hebei provincial gov. investment arm

$500m IPO Hong Kong

• China Longyuan Power Group Corp.

Wind-power generator already raised $2.2 billion in an IPO in Hong Kong in December 2009

source: online.wsj.com