China Announces $1.5 Billion Funding For Wind Farm In Texas

Published: 30-Oct-2009

A joint venture consisting of Cielo Wind Power LP, US Renewable Energy Group, LLC (USRG) and Shenyang Power Group of China has received $1.5 billion funding from China for the wind farm in west Texas, the Associated Press reported. The wind farm will be spread in 36,000-acre of area and will provide power sufficient for about 18,000 homes. A-Power Energy Generation Systems Ltd will begin shipping 2.5 MW turbines for the wind farm in March 2010.

"With a long track record for building some of the world's biggest wind farms, the US is a real ideal target for foreign alternative energy investment," Jinxiang Lu, Shenyang Power Group's chairman and chief executive officer, said.

The joint venture also plans to tap into US stimulus funding for alternative energy, USRG's Managing Partner Cappy McGarr said.

"It seems to be gradually getting back, back on its feet," Lu said. "And more important, we are getting support from Washington."

Rob Gramlich, the wind energy association's senior vice president public policy, said China has put in place aggressive renewable energy targets and is rapidly building up its manufacturing base. He said wind development potential is attracting investors from both within in the US and from overseas.

"A look at the top ten owners of wind farms in the US shows a healthy mix of U.S. and global companies," Gramlich said in a statement.

Yang Yazhou, vice mayor of Shenyang, said that the project will demonstrate for the first time Chinese capital and manufacturing and engineering expertise exported to the US.