China

China

Longyuan hits North American market with Canadian deal

CANADA: China's state-owned wind-power developer China Longyuan has made its first move outside its domestic market and acquired a share of a Canadian wind farm.

Longyuan signs the deal with Farm Owned Power
Longyuan signs the deal with Farm Owned Power

Under the agreement, Longyuan Canada Renewables will purchase stocks of a 100MW wind farm from Farm Owned Power (Melancthon) in Ontario.

Longyuan was unable to give details of the size of the stake, but said it would be a major shareholder in the 100MW wind farm.

The company said the project will be completed in about two years, but did not elaborate the exact start-time.

There was no indication who the turbine supplier would be. Industry insiders say the turbines will come from western major turbine manufacturers.

Earlier this year, Longyuan signed a worldwide supply agreement with Gamesa to develop projects in North America, Europe and Latin America.

The deal is the first wind-power project one of China’s state-owned power companies has in overseas.

For more, see the upcoming August issue of Windpower Monthly

 

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