AEI Acquires Stake in China Wind Farm

24 May 2010 (Last Updated May 24th, 2010 18:30)

AEI has acquired a 67% stake in a NBT (Baicheng) New Energy Development Company, a company formed in China, which is building a wind farm in Jilin Province, China. Work has begun on the 49.5MW first phase of the 200MW wind farm that will use 33 of Suzlon's S-82 1.5MW wind turbines manuf

AEI has acquired a 67% stake in a NBT (Baicheng) New Energy Development Company, a company formed in China, which is building a wind farm in Jilin Province, China.

Work has begun on the 49.5MW first phase of the 200MW wind farm that will use 33 of Suzlon's S-82 1.5MW wind turbines manufactured in Tianjin, China.

AEI also acquired a CNY397m ($58m) long-term project finance loan from HSBC and Bank of Communications for the project, which is expected to be complete by end of 2010.

The farm will be AEI's first wind farm in China built in concert with NBT, HSBC, Bank of Communications, Suzlon, Baicheng City, and Taobei District.