Guoneng Fengshen is a high-tech joint-stock enterprise specializing in wind energy investments as well as research and development of new energy technologies. The enterprise holds an agreement with the People’s Government of Taonan of Jilin Province for the development of 500 megawatts (‘MW’) of wind farms in Yongmao, Taonan.
Currently, 200 MW of the project has been established under the auspices of the Jilin Provincial Government and 50 MW out of the aforementioned 200 MW has obtained construction approval from the Jilin Provincial Development and Reform Commission. An additional 50MW has entered into the approvals process with the Jilin Provincial Gird Connection System.
In accordance with the agreement, GC China will assist Guoneng Fengshen in the overall development of its 200 MW wind farm in Taonan. Based on this agreement, Guoneng Fengshen has further pledged that the entire 200 MW wind farm would purchase and use wind turbines produced by GC China. As a result, should the project be completed and all orders met, the anticipated order of 200 units of 1.0MW 2-blade wind turbine is projected to result in sales to GC China in excess of US$146 million (1 billion RMB).
As part of the sales contract terms between both parties, Guoneng Fengshen signed an order with GC China for 50 units of 1.0MW turbines for the first phase of the Yongmao wind farm project at Taonan, Baicheng, Jilin Province, which is planned to fully complete the delivery, installation and grid connection within this year.
China Turbine Corp. (OTCBB: GCHT) GC China is a leading manufacturer of state-of-the-art 2-bladed wind turbines based in Wuhan City of Hubei Province, China. The Company holds a license to manufacture a groundbreaking technology which meets rigorous requirements for low-cost and high reliability. The technology was developed through a 10 year European research project costing over US$75 million. GC China’s launch product is a 1.0 megawatt ("MW") utility scale turbine with designs for a 2.5 MW and 3.0 MW utility scale turbine in development.