Consortium of British, US and Chinese firms to operate in China
1 May 2006
British wind project developer Wind Prospect has teamed up with Chinese engineering firm Insigma Group and Ridge Wind of the US to form a joint venture company, IW Power (IWP) to develop, finance, construct and operate wind projects across China. The consortium combines international wind power experience, significant financing capabilities and an established and innovative Chinese power market construction and engineering team, it says. Wind Prospect lays claim to approvals for 2000 MW of projects in the UK, Australia, Ireland and China, while Ridge Wind, which says it has strong financial backing through its American and Chinese affiliates, has 400 MW in development in China and the UK. Insigma is an engineer-procure-construct contractor of power plants and flu-gas desulphurisation units. IWP has opened offices in Hangzhou and Beijing but says it plans to work in all suitable provinces. With China heading for 30,000 MW of wind by 2020, IWP is "focussed on being an integral contributor to all aspects of the wind farm value chain," says James Pennay, IWP's managing director. "We have a strong team and are well positioned to offer the Chinese wind market a unique set of qualities, including vast technical expertise, investment capabilities and great construction and engineering."
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