Our company has signed a framework letter of intent with Shanghai Shenhua Holdings Co., Ltd,. (“Shanghai Shenhua”) to form Sino-foreign joint ventures to develop wind power electricity projects in the eastern area of Zhangwu (彰武) County, Liaoning province.
China WindPower owns exclusive rights for developing wind power electricity projects with installed capacity of 350MW in Zhangwu County, Fuxin (阜新) in Liaoning province (inclusive of the Qujiagou (曲家沟) and Masongshan (马鬃山) projects each of installed capacity 49.5MW). According to the framework letter of intent, the two partners wish to set up four joint ventures by the end of 2009 to develop four wind power projects with a total installed capacity of 200 MW. All of the projects, with a total capacity of 350MW, are expected to be completed by the end of 2010. Both parties will sign the formal agreement upon establishment of their joint ventures.