Tuesday, December 4, 2007

Grapevine-based Greenhunter enters agreement with Chinese wind turbine company

By Pegasus News wire

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Photo not provided by Greenhunter

I say, old bean, have you seen an industrial-scale wind turbine running around here?

GRAPEVINE — According to a story in the Dallas Business Journal, it appears Grapevine-based renewable energy developer Greenhunter Energy has inked a deal with a Chinese wind turbine firm. Greenhunter plans to acquire a 6.3% equity stake in MingYang Wind Power Technology Co. Ltd., based in Guangdong Province. MingYang makes industrial-scale wind turbines.

The equity will cost Greenhunter about $10 million. The company has also entered into an agreement with MingYang to buy up to 900 megawatts of turbine power between 2008 and 2012 for the North American market.

Posted by Todd M.

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