Topic: GD Power Children slide unit to set up wind power JV with Xiangtai In
GD Power Children slide unit to set up wind power JV with Xiangtai Industrial
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GD Power unit to set up wind power JV with Xiangtai IndustrialPublished: 27 Apr 2009 18:28:01 PST<p class="authorInfor"]</p]<!--begin CK content--]<ul class="narrow"]Top 5 News From ChinaKnowledge.comBYD may supply batteries for VolkswagenCMB to issue up to RMB 30 bln in financing billsChina Pacific Insurance Q1 profit plunges 88.88%Guoyuan Securities Q1 profit up 32.3%Yunnan Baiyao net profit up 40% in 2008<P]Apr. 28, 2009 (China Knowledge) - GD Hefeng Wind Power Development Co, a wholly-owned subsidiary of GD Power Development Co Ltd (GD Power)<600795>, has signed an agreement with Hebei-based Xingtai Xiangtai Industrial Co to set up a wind power joint venture (JV), the Shanghai Securities News reported on Monday.</P]<P]The new JV will have a registered capital of RMB 100 million, RMB 90 million of which will come from the GD Power subsidiary, which will hold 90% of the new company. The remaining RMB 10 million will be invested by Xiangtai Industrial.</P]<P]The new JV set up Honghualiang Wind Power Station, in Chongli County of Hebei Province, a project that was approved last April.</P]<P]The Chinese government is significantly boosting its wind power capacity, and expects more power to be generated from wind than from nuclear reactors by 2020. Many companies both at home and abroad see wind power boom as a great opportunity.<BR]</P]
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