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China's Insigma Group has joined forces with Wind Prospect and
RidgeWind to further their activities in this growing wind
energy market. The consortium combines three unique aspects;
vast international wind power experience, significant financing
capabilities and an established and innovative Chinese power
market construction and engineering team.
The joint venture company is IW Power Co. Ltd , which is
focussed on the development, financing, construction and
operation of wind farms. In addition, IW Power is
offering technical and commercial services to developers,
project investors and financial institutions.
Insigma's China experiences gained from being commissioned as
Engineer-Procure-Construct (EPC) contractors of power plants,
flu-gas desulphurisation units (FDG) and recently subways all
around China , will offer power market expertise, engineering
and project management capabilities.
Wind Prospect's skills and expertise gained by being involved in
nearly 2,000MW of approved wind farms in China, UK, Australia
and Ireland, will assist the venture by way of complementing the
already skilled staff with additional technical and commercial
capabilities relating to wind energy.
RidgeWind's capabilities stem from over 400MW of wind farm
development, and the financial strength of its US and Chinese
affiliates. RidgeWind's principals have over 100 years of
combined international energy market expertise to compliment the
financing capability necessary to enter the wind energy market
in China .
IW Power
has established Hangzhou and Beijing offices. Whilst ideally
located for projects in eastern and northern China , the company
plans to work in all suitable provinces.
General Manager, Li Jun said:
¡°IW Power will be working closely with Insigma Engineering's 200
Chinese project engineers and Wind Prospect's 60 professional
staff. This is all backed up by RidgeWind's wind farm
development and energy market expertise and financing
capabilities. From site identification to EPC contracting to
site operations ¨C we have the Chinese team ready to work to
international standards.¡±
Managing Director, James Pennay said:
¡° China must be congratulated for its world leading wind energy
targets, as it is aspiring to 30,000MW of clean secure wind
power by 2020. Based on this, IW Power is focussed on being an
integral contributor to all aspects of the wind farm value
chain. We have a strong team and are well positioned to offer
the Chinese wind market a unique set of qualities, including
vast technical expertise, investment capabilities and a great
construction and engineering team.¡±
Notes for Editors
The Insigma Group has 3,000 employees and RMB4 billion in
assets, working as power station and flu-gas desulphurisation (FGD)
EPC contractors, whilst also very involved in the IT industry
and education real estate. The company is directly related to
one of China's leading educational institutions - Zhejiang
University .
Insigma Engineering has more than 300 employees, with 200 of
them specializing in engineering design and management. Insigma
has established strategic co-operations with top-ranking wind
energy related Design Institutes in China , with both parties
consenting to share human resource and technical resource in the
wind energy field. More information can be found at
www.zdwxjd.com.
Wind Prospect Group Ltd
undertakes all aspects of wind
energy from development to decommissioning. It has been
involved in nearly 2,000MW of approved wind farms, including
onshore and offshore projects, in terms of development,
construction, operations and commercial services. In fact, in
terms of capacity installed, Wind Prospect is the most
successful developer in the southern hemisphere.
The company's civil, electrical and mechanical engineers have
overseen the commissioning of over 20 wind farms and have been
involved in operating 15 wind farms. Wind Prospect has offices
in China , Hong Kong , UK , Ireland , New Zealand and Australia
. More information can be found at
www.windprospect.com .
RidgeWind Ltd
's principals have
owned and operated energy businesses with over US$1billion in
turnover. At present they are developing and financing over
400MW of wind energy projects in the UK and China . Their
strong affiliations with Tang Industries Inc. offer significant
financing capabilities in China . Tang Industries Inc., with
over 40 years of successful operation, have 45 manufacturing
facilities in China, US, Canada and Mexico . More information
can be found at
www.ridgewind.com.
Why Wind Power?
With China 's current energy shortages, concerns for air quality
and global climate change, as well as the economic benefits of
the wind energy industry's development, the country is setting
world leading wind energy targets. NDRC is targeting 30,000MW
of wind energy capacity by 2020.
The Renewable Energy Promotion Law came into effect on 1 January
2006, with the associated regulations also released in January.
Zhang Guobao, Vice Chairman, NDRC, was recently quoted as saying
all gencos with more than 5GW of conventional generation
capacity must have 10% of capacity from renewable energies by
2020. Wind energy is one of the most appropriate technologies
to help meet these targets, as it is the cleanest and lowest
cost form in the market place.
Typically, a wind farm with 25 modern 2MW wind turbines will
generate enough electricity for the domestic consumption of
around 900,000 Chinese people, and will save around 115,000
tonnes of carbon dioxide (equivalent), one of the main
contributors to global climate change.
For further information, please contact
Li Jun, General Manager, IW Power Co. Ltd
e: info@iwpower.com.cn
James Pennay, Managing Director, IW Power Co. Ltd
e: info@iwpower.com.cn
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