Welwind Energy Signs Finance Contract for its Guangdong Wind Energy Farm

Welwind Energy International has signed a financing contract with GYII (Guangdong Yatu Industry Investment) towards the company’s wind energy projects. Under the agreement’s terms, GYII will be investing $16.3 million towards developing Welwind Energy International’s 49.5-MW wind energy project situated in Zhanjiang under the Guangdong Province. GYII will hold an interest of 20% in this wind energy project.

Through this contract, Welwind Energy International has received the distribution rights towards the newly produced vertical-axis wind turbine generator systems of GYII that Welwind Energy International is planning for distributing in North America. Furthermore, Welwind Energy International has agreed for using 12 vertical-axis turbines towards its Zhanjiang wind energy project.

Under the agreement, a new assembly plant for turbine generator system would also be created with each party owning up a share interest of 50%. Welwind Energy International specializes in the construction, development and research of wind energy farms.