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Xinjiang Goldwind to build wind farm in US
By Ding Yining |
December 21, 2010, Tuesday
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Online Edition
Online Edition
XINJIANG Goldwind Science & Technology Co said one of its units has won a contract to build a large wind farm in the United States as it moves to tap the international market for renewable energy.
Under the agreement, Xinjiang Goldwind's wholly owned unit Tianrun Shady Oaks LLC's wind farm will supply 20 years of power to Commonwealth Edison Company in Illinois starting from 2012, the Urumqi-based company said in a filing to the Shenzhen stock exchange.
The company expects the 106.5-megawatt project will cost between US$150 million and US$200 million. Construction will begin next year.
"Winning the contract is a significant step in the country's strategy to go international after it completed its listing in Hong Kong in early October," Essence Securities wrote in a research report today.
"Goldwind is likely to benefit by providing turbine and engineering services after the plant is built, as has been the case with its domestic operations."
Commonwealth Edison Company is one of the largest power companies in Illinois.
Tianrun Shady Oaks LLC will build the power plant and Goldwind will supply it with 1.5-megawatt turbines.
Goldwind also supplies turbines to the 4.5-megawatt Uilk Wind project in Minnesota, which was launched in January.
Shares of Goldwind advanced 3.22 percent today to close at 24.67 yuan on the Shenzhen market.
In a separate statement, Goldwind said it will sell a 49 percent stake in its subsidiary Damao Tianrun Co to China Ping An Trust & Investment Co for 209 million yuan (US$31.33 million). Goldwind will remain Damao Tianrun's controlling shareholder.
Under the agreement, Xinjiang Goldwind's wholly owned unit Tianrun Shady Oaks LLC's wind farm will supply 20 years of power to Commonwealth Edison Company in Illinois starting from 2012, the Urumqi-based company said in a filing to the Shenzhen stock exchange.
The company expects the 106.5-megawatt project will cost between US$150 million and US$200 million. Construction will begin next year.
"Winning the contract is a significant step in the country's strategy to go international after it completed its listing in Hong Kong in early October," Essence Securities wrote in a research report today.
"Goldwind is likely to benefit by providing turbine and engineering services after the plant is built, as has been the case with its domestic operations."
Commonwealth Edison Company is one of the largest power companies in Illinois.
Tianrun Shady Oaks LLC will build the power plant and Goldwind will supply it with 1.5-megawatt turbines.
Goldwind also supplies turbines to the 4.5-megawatt Uilk Wind project in Minnesota, which was launched in January.
Shares of Goldwind advanced 3.22 percent today to close at 24.67 yuan on the Shenzhen market.
In a separate statement, Goldwind said it will sell a 49 percent stake in its subsidiary Damao Tianrun Co to China Ping An Trust & Investment Co for 209 million yuan (US$31.33 million). Goldwind will remain Damao Tianrun's controlling shareholder.
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