Wind Wire: Factory sale

Spain's Acciona Energy has sold its 45% stake in its factory in Nantong, China, according to the factory co-owner Hong Kong-based China Energine International (CEI).

CEI says its subsidiary Beijing Energine Industry Co paid CNY 2.8 million ($409,835) for an additional 5% of the factory, which increased its total stake in the facility to 50%. CEI says that Hong Kong firm Chook Bo Group acquired 40% of the factory, which suffered from the intense competition in the domestic wind turbine market and sluggish progress made on domestic production of wind turbines. CEI, which is now developing direct-drive turbines that dispense with gearboxes, will make the factory a supply base for the coastal Jiangsu Province. Acciona did not respond to a request for further confirmation.

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