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http://www.bloomberg.com/apps/news?pid=20601072&sid=aLELx1Ie… A-Power’s Texas Windfarm Doesn’t Involve U.S. Funds (Update1) By Bloomberg News Nov. 6 (Bloomberg) -- A-Power Energy Generation Systems Ltd.’s $1.5 billion wind farm venture in Texas doesn’t “involve” U.S. stimulus funds, said Chief Operating Officer John Lin. The project will be funded by Chinese banks through loans to be obtained by unit Shenyang Power Group, which owns 49 percent of the wind farm, Lin said by phone from Shenyang, the capital of northeast Liaoning province. The venture, whose partners are U.S. Renewable Energy Group, a private-equity firm based in Washington, and Cielo Wind Power LP, a closely held company in Austin, Texas, will create at least 1,000 jobs in the U.S., he said. The Obama administration should bar the 600-megawatt wind farm from receiving U.S. government stimulus funds because most of the power turbines would be made in China, Senator Charles Schumer said earlier today. The Texas venture will be funded by Chinese banks and wills take advantage of financing through the U.S.’s $787 billion economic stimulus law, Cappy McGarr, managing partner of U.S. Renewable Energy, said last week. “The project does not involve directly any U.S. stimulus funds,” Lin said. “The stimulus funds may only be involved if our U.S. partners apply for tax incentives, but that will only be after the wind farm goes online.” Lin said. He declined to name the Chinese banks involved in financing the project. Tax Credit An Energy Department spokeswoman, Stephanie Mueller, said any application for the Texas project to benefit from a tax credit program under the stimulus would have to be “evaluated by the Energy and Treasury departments to determine eligibility.” “But no application has been received to date,” she said in a statement. Schumer said he was “furious” when he learned that $450 million in U.S. economic recovery aid may be used to help build the wind farm and create as many as 3,000 jobs, mostly in China. “He doesn’t understand the project. He thinks it’s not going to create job opportunities in the U.S. That view is wrong,” Lin said. Cielo Wind Power estimates that the project will create 330 jobs in the U.S. for the company, Lin said. Maintaining and operating the wind farm will create at least another 800, he said. Construction for the wind farm is expected to start in March 2010, Lin said. The companies are conducting due diligence on the project and they will announce a start-up date for the wind farm when they sign the final agreement, he said. The joint venture agreement signed last month included the purchase from A-power of up to 240 units of 2.5 megawatt wind turbines to be delivered starting March next year. The 36,000 acre-wind farm is the largest Chinese-American investment in U.S. renewable energy, according to the project partners. To contact the reporter on this story: Baizhen Chua in Beijing at bchua14@bloomberg.net Last Updated: November 6, 2009 04:42 EST |
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| aus der Diskussion: | A-Power - Irgendjemand investiert? |
| Autor (Datum des Eintrages): | Joe_Up (17.11.09 06:41:20) |
| Beitrag: | 104 von 1,756 (ID:38399817) |
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