Solar energy companies may have saturated the stock markets of the world with new offerings, but China High-Speed Transmission Equipment Group seems to think there's still room in the world for investment in other forms of alternative energy.

China High-Speed Transmission Equipment Group makes gears for windmills. The company currently has a hold on 90% of the windpower market in China and is looking at an IPO on the Hong Kong Stock Exchange, according to the Bloomberg news service.

About one out of every 500 megawatts of electricity in China is currently generated by wind technology. The government of China would like to expand wind energy production. China High-Speed Transmission Equipment Group's IPO could raise about HK$2 billion (US$256 million) to help finance growth of the industry.

General Electric currently has a five percent stake in the gear maker and has an option to increase that stake through this IPO. The stocks will be available through retail offering June 20-25. Trading on the HKEX begins July 4.