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  • Welwind Energy International Corp. (WWEI.OB) Signs Letter of Intent for 80% Interest in Wind Energy Project 0 comments
    Jul 15, 2010 2:30 PM
    The goal of Welwind Energy International Corp. is to build, own and operate wind farms internationally on a profitable basis. The company announced today that they have made progress toward that goal.

    Executives from the company’s China office recently successfully completed negotiations to acquire an 80 percent interest in a 300 megawatt, large-scale, wind energy project in Inner Mongolia, China. Welwind Energy and Inner Mongolia Test Power Limited signed a letter of intent for 80 percent ownership and future expansion rights in the Inner Mongolia Wind Turbine Complex 300MW Wind Farm Project. The project is located in Wu Lan Cha Bu City.

    In the signed letter of intent, Welwind agreed to: arrange debt financing; oversee construction, operations and management of the wind farm project; and provide technical support for the project – including the latest wind energy research, wind turbine equipment manufacturing and wind farm construction.

    The potential capacity of the joint venture project is 1000 megawatts. Phase 1 is an existing 49.5 MW wind farm project with 6 test turbines already erected. Negotiations for the joint venture were ongoing for over a year. The director of Welwind Energy International, Zhigao Zeng, is excited about the project’s size and potential. He said, “We are excited to be at the point of signing a letter of intent. This is by far the largest and most impressive wind energy project that Welwind has pursued to date”.

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