Far East Wind Power Acquires Rights for Wind Farm in China

Far East Wind Power Corp. has completed negotiations towards acquiring particular rights towards a wind farm that is located in China’s Yunnan Province. For this purpose, the company has signed a LOI (Letter of Intent) with Taitong Energy. Far East Wind Power is currently taking advantage of China’s niche marketplace in the wind energy sector.  

Increasingly, wind farms are being developed by the state-owned enterprises in China. The country has formulated a 15% target for non-fossil fuel and renewable energy sources of electrical energy share of the overall energy usage by the year 2020.

Many Chinese entrepreneurs are becoming increasingly aware of the values that can be created by a wind farm and are resultantly trying to storm the marketplace. However, the main issue faced by these businessmen is start-up financing. The government is working with such entrepreneurs towards providing them with capital as well as refining their business so that wind farms can be developed, while, simultaneously, substantial cashflow can also be generated.