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China

China

UPC signs $1.5 billion deal with Guodian

CHINA: China’s Guodian Corporation has signed an agreement with US energy company UPC to construct seven wind farms totaling 1.075GW in provinces including Inner Mongolia.

Under the agreement, the two companies will develop, construct and operate the projects. Guodian was unable to comment on the exact timetable.

UPC will provide $735 million out of the total investment of $1.5 billion. The projects will be built across four Chinese provinces in total.

The first project to come out of the agreement will be the Liaoning Linghai project. There were no details about the development’s specification.

UPC entered China in 2006. So far, it has developed 24 wind power projects in China, which totaling 150MW at the end of 2010.

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