TXST to develop 200-MW wind farm in Gansu
Shanghai. September 9. INTERFAX-CHINA - Tianjin Xinmao Science & Technology Co. Ltd. (TXST), a manufacturer of wind turbine blades, announced Sept. 9 that it will participate in developing a wind farm with 200 megawatts (MW) of installed capacity in western China's Gansu Province.
TXST plans to start construction of the project soon in Gansu's Jiuquan City, according to the announcement. The company said that it is developing the project to boost sales of its wind blades.
The wind farm will require total investment of RMB 2.09 billion ($306 million), according to the announcement.
TXST said it plans to initially invest RMB 40 million ($5.86 million) in cash in the wind farm. The remaining cost of the project will be covered by the company's other business partners and bank loans, according to the announcement.
The company said that the wind farm is projected to generate revenue of RMB 5.27 billion ($771.60 million) over 25 years and earn aggregate profits of more than RMB 1.1 billion ($161.05 million). TXST estimated the wind farm's investors will be able to recover their investments in about 11 years.
-WV