Thursday, May 15, 2008

Grapevine-based GreenHunter has wind energy develoment project in China

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GRAPEVINE — GreenHunter Wind Energy, LLC, a wholly owned subsidiary of GreenHunter Energy, Inc., announced its first wind energy development project outside of the United States, located south of Shanghai, China. Once fully constructed, the project has the potential to generate up to 300 MW of power and will be developed in partnership with two other parties, Chem-Energy, Inc., a U.S. based developer and a Chinese based wind turbine manufacturer, MingYang Wind Power Technologies. GreenHunter Wind Energy will manage and control approximately 70% of the ownership equity of this project.

GreenHunter's exclusive agreement with MingYang gives them preferential rights to purchase any turbines they export to North America between 2009 and 2012. MingYang is currently the only Chinese company permitted to export turbines to the U.S. and GreenHunter hopes to import as many as 200 of them during the next several years.

Source: Greenhunter

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