China sign 400MW wind farm agreement in London

4th June 2007

China sign 400MW wind farm agreement in London

A signing ceremony held in London has given international firm IW Power exclusive rights to develop 400MW of wind farms in China. The wind farms will be built in the Jilin Province of North East China which has a population of 30 million and recently hosted the Asian Winter games. Governor of the Jilin province, Wang Min, witnessed the signing of the agreement between the Head of Jilin Development, Wang Zuji and the Director of IW Power, Michael Tang.

IW Power is a joint venture company including UK developer Wind Prospect, US investor Tang Industries, and Chinese power contractor, Insigma. The agreement has been brought about in little over 12 months, reflecting the growing pace of change in China's wind industry. Last year China overtook the UK in wind generation, and the Jilin agreement alone is equivalent to almost 20% of the UK's wind capacity.

Michael Tang said "we are embarking on our first major wind farm development in the Chinese market and hope that the first 50MW wind farm in Qian'an will be the beginning of an enduring relationship with the Jilin Province. We will supply international standard wind energy developments which will maximize the clean power generated by each wind farm."

Planning approval for the first of a series of 50 MW wind farms is expected this summer, with construction planned to be completed in 2008. A sub-station to take power to the grid is already under construction.

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Head of Jilin Development, Wang Zuji and the Director of IW Power, Michael Tang.

Editors notes:

The signing was held at the Reform Club in Pall Mall on Wednesday 30 May. Also in attendance were senior business leaders from Jilin and UK government representatives. The Reform club was originally set up in the 19th century to provide a meeting place for political reformers of the time.

The first 50MWphase will prevent around 135,000 tonnes of carbon dioxide emissions every year, offering clean power during a period of rapid economic development in Jilin. The initial wind farm proposal is in the county of Qian'an, two hours west of Changchun in the northeast province of Jilin. The wind farm will make use of steady winds across a predominantly flat landscape.

The China wind market is growing rapidly, with some 2,300MW installed at the end of 2006, which was an increase of around 1,300MW in one year. The Government of China has set a target of 5,000MW by 2010 and 30,000 by 2020, which will make China one of the world's leaders in wind power.

IW Power is a joint venture between UK developer Wind Prospect, US holding company Tang Industries and China's Insigma Group. It offers vast international wind power experience, significant financing capabilities and an established and innovative Chinese power market construction and engineering team.

Contact:
For further information please contact:
James Pennay
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