CHINA TO BUILD TEXAS WIND

U.S. Renewable Energy Group, China`s Shenyang Power Group, and Cielo Wind Power to Develop a 600MW Wind Farm in Texas
October 29, 2009 (Business Wire via Reuters)

"The U.S. Renewable Energy Group and Cielo Wind Power LP…have entered into a joint venture framework agreement (the "JV Agreement") with China`s Shenyang Power Group ("SPG") which sets forth plans to develop a 600MW wind farm across approximately 36,000 acres in Texas. The agreement marks the first time China and U.S. entities agree to jointly develop a utility-scale wind power project. The project is estimated to have a total cost of approximately $1.5 billion and A-Power Energy Generation Systems, Ltd., a shareholder of SPG in China, is designated as the
supplier of 240 units of the 2.5MW wind turbines manufactured at A-Power`s facilities in Shenyang, China. In total, the wind farm is expected to produce enough electricity for 180,000 homes and create hundreds of American jobs. It is also expected to be one of the largest wind farms in the U.S.

"…[C]ommercial banks in China are expected to finance the $1.5 billion required for the project…A-Power is expected to start shipping the wind turbines in March 2010…"

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"SPG is a local power industry alliance based in Shenyang, China, and it was formed early this year under the leadership of A-Power, China`s leading provider of distributed power generation (DG) systems and a fast-growing manufacturer of wind turbines. SPG`s member companies range from power equipment makers to engineering service providers. The alliance was created to integrate local resources and leverage the manufacturing, engineering and government initiatives in the Shenyang area so that SPG can pursue large-scale, international projects in the alternative energy sector…

"Cielo is one of the most successful wind farm developers in the United States, accounting for over 1,100 megawatts of wind energy. Cielo is committed to developing, owning and operating the most cost-effective and environmentally responsible wind power facilities for the benefit of many load-serving entities throughout the southwestern United States. Texas is the American leader in wind energy with 8,797 megawatts of wind-generated electricity…"

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"Earlier this year President Obama and the U.S. Congress created the American Recovery and Reinvestment Act of 2009 to promote innovation and investment in renewable energy. This legislation is clearing the way for increased capital formation and significant clean energy investment. By opening doors to global investment, America is positioning itself as the leader in developing innovative, renewable technologies and bringing clean energy to market…

"US-REG`s mission is to integrate renewable and environmentally sound energy technologies into the American marketplace, while generating tremendous returns with a range of smart and strategic investments in clean energy. US-REG is devoted to strengthening America`s energy independence, environmental quality, and economic vitality through investments in utility-scale projects in wind, hydro, geothermal, solar, and bioenergy."