CHINESE PUT MONEY INTO U.S. WIND

A-Power Receives NDRC Approval and Makes Cash Contribution to Texas Wind Farm Project Company
February 16, 2010 (PR Newswire)

"…Shenyang Power Group ("SPG") [subsidiary of fast-growing wind turbine manufacturer and distributed power generation ("DG") systems builder A-Power Energy Generation Systems] has completed the establishment of a project company related to the development of a 600MW wind farm in Texas and has made an initial cash contribution of $36.625 million. In connection with the capital contribution, SPG has received final approval from the Chinese National Development and Reform Commission ("NDRC") to proceed with this project.

"…SPG…United States Renewable Energy Group Wind Partners I, LLC…and Cielo Wind Power, LP…[have an agreement] for the purpose of owning, designing, developing, constructing, managing and operating a wind energy power plant to be located in Texas with a total nameplate capacity of 600MW (the "Project")."

Thanks to this project, Chinese money will fund one of those green dots and create U.S. jobs. (click to enlarge)

"The Project is expected to cost in total approximately $1.5 billion, a portion of which is designated for wind turbine purchases…A-Power, the parent company of SPG, has been designated to supply wind turbines to the Project in Texas, and an affiliate of Cielo will develop the project…In addition to the thousands of American jobs that are anticipated will be created throughout the project's 30-year life, a minimum of 70 percent of each turbine will be wholly manufactured in the United States…"

U.S. wind builders. (click to enlarge)

"The United States Renewable Energy Group is a U.S.-based private equity firm that mobilizes and facilitates the participation of international financing and investment in large-scale renewable energy projects within the United States…US-REG is devoted to strengthening America's energy independence, environmental quality, and economic vitality through investments in utility-scale projects in wind, hydro, geothermal, solar, and bioenergy…[to foster] economic development of the U.S. renewable energy industries and [generate] new high paying jobs for Americans…

"Cielo Wind Power, LP is a privately held company that develops, constructs, owns and operates wind power facilities. Based in Austin, Texas, Cielo has developed over 1,150 MWs of wind power facilities and is currently developing wind energy projects in the US power markets of ERCOT, SPP and WECC…[while] taking necessary steps to minimize the impact of wind projects on farming, ranching and natural uses of the land…"