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Seeking foreign investment for 1000 MW in three projects
1 April 2007
Three wind projects with a combined capacity of 1000 MW are expected to be formally launched in the city of Yangjiang in South China this year, according to the Yangjiang Municipal Government in Guangzhou. The development represents an investment of some CNY 8 billion ($1 billion), all of which is to be provided by foreign investors, according to the city's executive vice mayor, Zhong Yi, quoted in a recent Xinhua report. Of the three projects -- the Hailing, Yangdong and Yangxi wind farms -- Hailing is the most advanced, with wind assessment completed and preliminary government approval for land use granted. Wind assessments are currently underway for the other two. Furthermore, an agreement was signed in January between Guangzhou Enggawind Power Equipment Manufacturing and Yangjiang Municipal Government to build a large wind power equipment production facility. It will be the first such factory in Guangdong province. The plan includes an investment of CNY 5 billion ($625 million) over three years, targeting an output value of CNY 12 billion ($1.5 billion), says Enggawind.
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