WIND CONSOLIDATING IN CHINA

Far East Wind Power Announces LOI to Acquire 700MW Wind Farm Development Rights in China
March 29, 2010 (CNN Money)

"Far East Wind Power Corp…has entered into a Letter of Intent ("LOI") with Wuhan Guoce Nordic New Energy Co. Ltd. of Wuhan, China ("Guoce") to acquire…development stage wind farm projects located in Jilin Province and the Inner Mongolia Autonomous Region ("Inner Mongolia").

"The proposed projects will be acquired from Guoce for cash and other considerations…Guoce is a manufacturer of wind turbines and has been assembling a 700 megawatt ("MW") portfolio of project locations and working with local, regional and national agencies as well as regional grid operators to acquire requisite permits and approvals necessary for development…[Far East Wind Power] has agreed to exclusively use wind turbines manufactured by Guoce should the projects proceed and to position Guoce as a strategic partner…"

Absorbed by a bigger player in a consolidating industry in...(click to enlarge)

"The most advanced-stage project of the portfolio is known as the TianHe 1 Project and is a proposed 50MW development with all approvals in place and a site ready for construction commencing in April. This Inner Mongolia location has been determined to be a robust wind resource…The TianHe Phase 2 project is planned for an additional 50MW later this year subject to permitting and approvals…"

...A rapidly expanding marketplace. (click to enlarge)

"Additional projects as part of the Guoce portfolio include a number of locations in Jilin Province. They include a proposed 100MW development site at the Min Ying Development Zone, and a planned 500MW program dispersed across the proposed Taonan Project Phases 1-5. All sites have been identified by various government agencies as recognized wind resource development locations…which could offer short lead times to development.

"Far East's mission is to develop wind farms with the highest rates of return on investment in the industry by working with strategic partners to develop or acquire innovative solutions to drive cost out of the turbine manufacturing process…"