Renewables, Wind

Greenwind Power /Optimal Ventures announces joint venture to develop wind farm in China

19 March 2004 – Greenwind power corp/optimal ventures incorporated, OPVN, announced that they have entered into a joint venture with China Link Industries Group Inc of Shanghai, China to develop and operate an initial 50 MW wind farm on Daishan Island in the Zhejiang Province of China. Representatives from China Link are currently in talks with Zhejiang Province government officials to finalise the details of a letter of intent for the project and complete the preliminary feasibility study for the location.

The emergence of China as an industrial powerhouse has resulted in the country becoming one of the world’s largest energy consumers. China’s heavy reliance on coal combustion for energy production has also unfortunately resulted in the country becoming one of the world’s most polluted countries. As a result, the Chinese government has committed to growing their wind energy industry to meet the country’s increasing energy demands and strategies to improve air quality. The Chinese government hopes that the World Wind Energy Conference scheduled for the fall of 2004 in Beijing will help foster the growth of wind energy in China. The Daishan Island project, located just south of Shanghai, represents an important step in the Chinese government’s wind energy initiatives.