Sinovel Agrees to Supply Wind Turbines for $1 Billion Agaoglu Wind Farm in Turkey

Chinese wind power companies including Xinjiang Goldwind Science & Technology Co. plan to expand abroad to combat a slowing home wind farm market after a tighter government approval process for new wind power projects raised competition.

Goldwind, China’s second-largest wind power, bought two wind farms in Montana this year and will supply wind farm projects in Chile. Sinovel signed a pact to work with Greece’s Public Power Corp. on wind energy last year.

Sinovel, based in Beijing, “looked positively” on an invitation to base part of the production in Turkey. The wind energy project’s investment value is $1 billion, the company said.

Turkey, which seeks to generate 30 percent of its power from renewable sources by 2023, needs to develop clean energy at a faster pace, Agaoglu Chairman Ali Agaoglu said.

The nation, which is seeking to curb emissions while reducing dependence on energy imports, installed 470 megawatts of wind power last year, according to European Wind Energy Association data. It had 1,799 megawatts of wind power in total at the end of 2011, according to the Brussels-based industry group.