datang forms wind farm jv in australia

I think this is just an update on other news floating round.. but if this is going to be so.. then there has to be a bit of a kick along with CBD being on board with these Chinese firms..

Datang forms wind farm JV in Australia
(Xinhua)
2011-04-21 11:15

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BEIJING - China Datang Corporation Renewable Power Co Ltd will join efforts to establish a joint venture for developing wind farms and other renewable energy resources in Australia, said Datang in a statement published on its website Wednesday.

This joint venture -- AusChina Energy Group -- will be founded by Datang Renewable in cooperation with CBD Energy Limited, an Australian-based company, and Baoding Tianwei Baobian Electric Co Ltd, a company based in north China's Hebei province, according to the statement.

Under the agreement, Datang Renewable holds a 63.75 percent stake in the new joint venture, while CBD Energy has a 23.75 percent stake, and Baoding Tianwei garners the remaining stake.

According to the 21st Century Business Herald, a Beijing-based Chinese language newspaper, under an initial plan, the joint venture will set up a wind farm and solar power plant in three years, with an investment of 3 billion Australian dollars ($3.19 billion).


The gross investment over the next eight years will reach A$6 billion ($6.46 billion). The ultimate objective of the joint venture is to eventually occupy 33 percent of the renewable energy market in Australia.
The two Chinese companies -- Datang Renewable and Baoding Tianwei -- will supply facilities and funds for the project.

more @
http://www.chinadaily.com.cn/business/greenchina/2011-04/21/content_12372432.htm

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