Industry insiders say the wind turbines project will be completed in about two years, but did not give a precise starting time for the wind farm.
When completed, the wind turbines project will be able to supply electric power for 30,000 households, Longyuan said. The deal marks the first time for a Chinese state-owned power company to invest in a wind power project located overseas. Longyuan kicked off its efforts to purchase the equity shares in November 2010.
Xie Changjun, general manager of Longyuan, said Canada boasts rich wind power resources and excellent supporting policies for its wind industry, which have helped to create an ideal investment and operation environment for wind farms.
According to Denmark-based consultancy company BTM Consult, Canada had the largest amount of installed wind power capacity in North America by the end of 2010, just after the United States. According to its provincial wind power development plans, Canada will have 12 gigawatts (GW) of installed wind power capacity by 2016.
Longyuan’s wind farms totalled 6.56 GW of installed wind power capacity by the end of 2010, the single largest amount in Asia and the third-largest in the world, according to a BTM report.
Longyuan has been vigorously exploring the global renewable energy market in recent years, establishing offices in South Africa, the United States, Canada and Europe.
Longyuan said it has made substantial progress in establishing wind power projects in South Africa, in addition to its advances in Canada.