GC China Turbine Corp., the Wuhan City, Hubei Province-based developer of next generation, 2-blade wind turbines incorporating proprietary technology (which makes them renowned for low-cost and reliability), announced a cooperation agreement today with Inner Mongolia-based Fengshuo Wind Power Co., Ltd to develop a 300-MW wind farm for regional power generation.
The cooperation agreement was signed January 30, 2010, and is now being rapidly implemented.
The development of this facility will require the purchase of many of GCHT’s turbines. The decision to move forward comes after successful acquisition by Fengshuo of a Consent Letter from the Alukeerqinqi Development & Reform Bureau of Inner Mongolia to develop in the Baoleng region.
Fengshuo has a proven track record of wind farm project development and specializes in just such operations. With written consent also obtained from the Eastern Inner Mongolia Electric Power Corp., the project is ready to complete the initial assessment and planning for a power grid connection.
GC China will leverage its vast experience getting wind farm projects approved, help to obtain access to additional capital, and – generally speaking – facilitate the planning, permitting, and approval process, as well as supplying the very finest in state-of-the-art hardware for this new 300-MW wind farm under terms of the cooperation agreement.
Fengshuo has guaranteed to purchase GCHT turbines for the project at market price based on order time, a potential sales value totaling $206 million (1.41 billion Yuan).
A unanimous written approval is required by the agreement if Fengshuo wants to bring other partners in to help develop the project, and the agreement also affirms a preemptive first right of refusal for GCHT as the primary supplier of turbines.