Welwind Energy International and YATU Wind Energy Manufacturing Co. Ltd. (formerly ENGGA) have begun negotiations for a Joint Venture Partnership to manufacture wind turbines internationally. The two companies have also signed a Turbine Supply Agreement for 66 wind turbines for the Zhanjiang Wind farm Project.
YATU Wind Energy Manufacturing Co Ltd. is the developer of several types of wind turbine products. By joining forces, the two companies will be able to manufacture and distribute wind turbines on an international level. As per the Equipment Purchase Contract, YATU Wind Energy will deliver 66 turbines to the Welwind’s Zhanjiang site before October 18, 2009, allowing Welwind to take possession of them without having to wait 2-4 years.
The two company’s joint venture will be beneficial to the industry because there is need for an alternative source of energy. This demand is creating explosive growth for wind power globally and the industry is seeing an ever-growing waiting list for the delivery of wind turbines. For example, the estimate of delivery of a turbine in some cases is not until 2012, but companies are still taking orders. In the UK and US, orders have gone to over $2.4 billion in this year alone.
Commenting on the partnership, Mr. Feng, director of Welwind Energy stated, “We are thrilled to not only announce that we intend to have all 66 turbines delivered to our Zhanjiang project before the close of 2009, but are further pleased to be involved in negotiating a joint venture partnership for a stake in the turbine manufacturing sector. This news from our China Corporate Office takes Welwind to a whole new level in the alternative energy marketplace. Not only does the news of a potential Joint Venture allow for us to assist in supplying turbines to a much needed market; the EPC gives the company first priority in getting our projects expedited at an extraordinary pace.”
Welwind Energy International goal is to become a leading provider of clean energy products for the residential, business and governmental consumer.
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