Canadian Wind Turbines Bound for China

Canadian turbine manufacturer AAER has signed a letter of intent with the Chinese firm Fujian YongFeng Science and Technology to purchase 27, 1.5 MW wind turbines.

Montreal, New York, Paris – October 14, 2002 [] This US$49 million-dollar deal is supported by an option to purchase 66 additional wind turbines bringing the total value of the order to US$120 million dollars. “We are thrilled with the outcome of this transaction as it strengthens the relations that our two companies have developed over the past three years,” said Yong Su Lee, President of Fujian YongFeng Science and Technology. “This project is very important for China, a country where the need for wind energy represents millions of kW and where 70 million people still have no access to electricity.” Furthermore, an American group is also getting ready to announce a US$200 million intent to purchase 120 wind turbines made by AAER. Based in Montreal since December 2000, AAER plans to set up its large capacity wind turbine plant in Quebec in the fall of 2003. “We are very proud to provide Canada with its first wind turbine manufacturing plant at a time where the wind power industry is flourishing worldwide,” said Dave Gagnon, AAER President and CEO. “In 2001, eight manufacturers, seven of which are European, were responsible for supplying 85 percent of the world’s wind turbines furthermore, the demand for wind turbines continues to exceed supply.” By 2011, all NAFTA countries should have installed wind turbines providing 30,000 MW. In 2003 alone, the United States plans to install equipment capable of a 2,500 MW capacity. Southern countries such as India and China, where remote rural regions still have no access to electricity are also concerned.
Previous articleGreen Power Purchasers Recognized
Next articleHydro-Quebec Seeks Wind Power Bids

No posts to display