AES signs 700MW deal with Chongqing Energy Investment

CHINA: Chongqing Energy Investment Corporation (CEIC) has signed an agreement with AES Corporation to develop 700MW in China over the next three to five years.

The wind farms will be part of the Hami project in Xinjiang
The wind farms will be part of the Hami project in Xinjiang

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The wind farms will be built as part of the 10GW Hami project in the north western Xinjiang region.

CEIC and AES will set up a joint venture for the projects, with a total investment of CNY 20 billion ($3 billion).  The venture will also develop 1GW of hydropower projects in Chongqing.

CEIC will hold 51 per cent ownership, and AES will hold 49 per cent.

In October, senior Chinese wind industry executives expressed concerns that low bidding for the country's first public onshore tender could endanger the development of its wind industry.

The tender involved 24 projects totalling 3.5GW in the Xinjiang and Hebei provinces, including 10 wind farms totalling 2GW in Hami. The tender required developers to use turbines with a capacity of 2.5MW or bigger.

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