The LOI sets out the basis for a proposed agreement whereby the Polish business entity known as "Life Energy" of Warsaw, Poland would jointly participate with GC China in feasibility studies, financial planning, management and development of future wind power renewable projects proposed for Poland and other regions across parts of Europe.
The European renewable energy market is considered to be relatively mature for the wind energy sector and many wind farm operators and utility providers are looking for newer technologies and increased efficiencies offering reduced capital investment and improved overall operating returns. GC China’s state-of-the-art technology delivers a very attractive cost per capacity ratio and anticipates this alliance in Poland will lead to new relationships and opportunities across the continent.
The Company’s exceptional sales and marketing efforts in China have been rewarded with contracts of approximately US$173.5 million to-date. For more information visit: www.gcchinaturbine.com
Additional details regarding the Company and its business, financial condition and management of GC China and related parties are filed as part of the Company’s continuous public disclosure as a reporting issuer under the Securities Exchange Act of 1934 filed with the Securities and Exchange Commission’s ("SEC") EDGAR database.
GC 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.