GC China Turbine Corp., a leading Chinese manufacturer of twin blade wind turbines in Wuhan, Hubei Prov., wishes to provide an update of events regarding the Dafeng Offshore Wind Power Project of Jiangsu Province, China.
As previously announced in November, GC China has entered into preliminary agreements with the local authorities with the intent to develop a local manufacturing base from which to build large utility scale turbines for offshore and coastal use in the area. Initial plans envision several local offshore wind farms, each offering 500 megawatt (MW) capacity. Initial estimates by the Company place the value of potential orders for a project of this scale in excess of US $344 million (2.35 billion Yuan).
The company announces that procedures for the establishment of joint venture opportunities are ongoing and has led to commitments obtained from the local government for an initial 500MW offshore wind farm. This first phase of the regional master plan, if approved, is estimated to include 50 turbines of 1.0MW. At later stages, the wind farm will also synchronously utilize the new high output models of 2.5MW and 3.0MW currently in development at GC China's European R & D facility.
The project is targeting a three phase development plan with options for additional capacity engineered into each stage should increased demands warrant added scope. The Company is confident it can accomplish its engineering and environmental assessments and receive the necessary approvals for the first phase 100MW offshore wind farm during 2010.
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