Welwind Energy Inks LOI with Inner Mongolia Test Power for Wind Energy Project in China

Welwind Energy International Corp. has signed a Letter of Intent with Inner Mongolia Test Power Ltd. for acquiring an 80% stake in a large-scale, 300-MW, wind energy project Inner Mongolia Wind Turbine Complex (MWTC) situated in Wu Lan Cha Bu City in Inner Mongolia Autonomous Region in China.

As per the terms of the agreement, Welwind Energy International will arrange debt financing; manage operations and construction of the project; and offer technical support for the wind project such as recent worldwide wind energy research, windfarm construction and wind turbine equipment manufacturing.

The potential output of this joint venture wind project is estimated to be 1,000 MW. The first phase is a present 49.5 MW project with a renewable PPA spanning 50 years issued in the year 2008 and comprises 6 test turbines installed. The project uses testing equipment provided by NRG Systems.