in News Departments > New & Noteworthy
print the content item

Grapevine, Texas-based GreenHunter Energy Inc. has entered two definitive agreements with wind turbine manufacturer MingYang Wind Power Technology Co. Ltd., based in Guang Dong Province, People's Republic of China (PRC).

GreenHunter will acquire a 6.3% equity interest in MingYang for approximately $10 million. GreenHunter's investment is conditioned upon approval from the appropriate governmental authorities to allow for a foreign investment in the PRC. In addition, Wind Hunter LLC., a wholly owned subsidiary of GreenHunter, has secured a master wind turbine supply agreement with MingYang that allows Wind Hunter to purchase 900 MW of new capacity for wind projects to be developed between 2008 and 2012 in North America.

Key components of the supply agreement include:
- purchase by Wind Hunter of 108 MW of 1.5 MW wind turbines for new projects in the U.S.,
- preferential right for Wind Hunter to purchase any turbines to be exported by MingYang to North America from 2009 through 2012, and
- the right for Wind Hunter to purchase larger capacity turbines if manufactured by MingYang from 2009 through 2012.

MingYang says it has existing orders from companies for installation of wind turbines within the PRC that exceed 1,000 MW.

"The significance of this transaction to our organization is twofold," says Gary Evans, chairman and CEO of GreenHunter. "First, we will now have long-term access to turbine equipment at a time when such equipment is extremely scarce worldwide. Second, we are excited to be the first company in the United States to employ turbines manufactured in China."


Helukabel_id1908
Latest Top Stories

Bird Groups Target LEEDCo's Icebreaker Offshore Wind Pilot

Two bird conservation groups that helped halt a wind project earlier this year argue that Lake Erie Energy Development Corp.'s (LEEDCo) 18 MW offshore demo poses a major risk to regional wildlife.


Report Disputes U.S. Agency's Renewable Energy Projections

A new analysis from the Sun Day Campaign says renewables are slated to provide 16% of U.S. generating capacity by 2018 - over 20 years earlier than forecast by the Energy Information Administration.


Kansas Renewables Mandate Survives Yet Another Attack, But Is It Too Early To Celebrate?

Over the past three years, some legislators have tried to either weaken or repeal the state's renewable portfolio standard, which requires Kansas utilities to reach 20% renewables by 2020.


AWEA Highlights U.S. Wind Success Stories Of 2013

Despite a 92% drop in new capacity last year, the sector still has myriad reasons to celebrate, according to a new report from the American Wind Energy Association.


Feds List New Bird Species As Threatened - Should Wind Developers Be Worried?

The U.S. Fish and Wildlife Service is designating the lesser prairie-chicken as threatened under the Endangered Species Act. An expert explains how this might affect the wind industry.

WomenofWind_id
Acciona_id1907
JLG_id1900
UEA_id1896
AWEA_id1886
bonfiglioli_id1913