October 29, 2009

China-USA JV to Build 600 MW Texas Wind Farm

Shenyang Power Group in Shenyang, capital of industrial powerhouse Liaoning Province, will own 49% of a joint venture (JV) between its listed subsidiary A-Power Energy Generation Systems (NASDAQ: APWR) and private equity firm US Renewable Energy Group and privately held Cielo Wind Power. The JV will construct a 600 Mega Watt wind farm on 36,000 acres in Texas. When complete it will be one of the largest wind power installations in America. A-Power Energy will build the tubines, each 2.5 MW capacity, at its plant in Shenyang. Financing is yet to be finalized but rumour is Chinese banks will fund the project....

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