I recently received this news release and although there are numerous stories concerning the proposed West Texas development that have come out recently I felt it was appropriate to post this release. I do have a couple questions though and if you know the answer I would appreciate it if you left a comment or contacted me directly.
#1 Has the land for this project already been leased?AND#2 Where exactly is the location in which the project is being planned?
Here's the release...
U.S. RENEWABLE ENERGY GROUP AND SHENYANG POWER GROUP ANNOUNCE LARGEST PRIVATE CHINESE-AMERICAN INVESTMENT EVER IN U.S. RENEWABLE ENERGY
WASHINGTON, DC – The U.S. Renewable Energy Group (US-REG) and
Cielo Wind Power LP today announced a partnership with the Shenyang Power Group (
SPG) to construct a $1.5 billion, 600 megawatt, wind energy plant across approximately 36,000 acres in west Texas. This is the largest joint investment by American and Chinese companies ever made in the U.S. renewable energy sector, and will be the country’s second largest wind energy plant. In total, the project is expected to produce enough electricity for 180,000 homes, create hundreds of American jobs, and generate millions in revenue for local communities.
At an event held today in Washington, DC, Chinese leaders, U.S. leaders, and top executives from US-REG,
SPG, A-Power Group, and
Cielo Wind Power, LP gathered for a signing ceremony to finalize the largest private Chinese-American investment ever in renewable energy in the United States. The ceremony included the Vice Mayor of China’s Municipal People’s Government Yang
Yazhou,
SPG Chief Operating Officer John Lin, US-REG Managing Partner
Cappy McGarr, US-REG Managing Partner Ed Cunningham, and
Cielo Wind Power, LP Vice President of Finance and Business Development Joe Stark.
The ceremony was hosted by US-REG (www.US-REG.com), a U.S.-based private equity firm that mobilizes and facilitates the participation of international financing and investment in utility-scale renewable energy projects within the United States. US-REG provides American businesses with access to international investment options and works with strategic partners to identify domestic-based clean energy projects.
“US-REG, Shenyang Power Group, and
Cielo Wind Power are combining investment, expertise, and resources to bring clean, reliable, and affordable renewable technologies to the marketplace,” said
Cappy McGarr, US-REG Managing Partner. “This historic $1.5 billion investment in wind energy will spur tremendous growth in the renewable energy sector and directly create hundreds of high-paying American jobs.”
Shenyang Power Group is based in Shenyang, China, and through its partnership with the A-Power Group, is China’s largest provider of distributed power generation systems focusing on energy-efficient and environmentally friendly projects.
SPG’s $1.5 billion investment is China’s largest investment to date in American energy, underscoring the enormous potential and attraction of the U.S. renewable market.
“Today, we demonstrated our commitment to clean, renewable energy with the largest private Chinese-American investment ever made in a U.S. renewable energy project,” said Vice Mayor Yang
Yazhou, who oversees all environmental protection and economic growth and development of the city of Shenyang. “We all share the common goal of bringing cost effective and environmentally responsible renewable energy to millions of homes across the world, and this project will greatly benefit both the Chinese and American economies.”
“The Shenyang Power Group is committed to renewable energy and we are excited about the growth potential of American renewable energy,” said John Lin, Chief Operating Office of Shenyang Power Group. “We are proud to partner with the U.S. Renewable Energy Group and
Cielo Wind Power to make this major investment in American wind energy.”
“Though some will describe this project as a large-scale, U.S.-China venture, it is in fact a cooperation, based on respect and friendship, between the best and brightest women and men from both countries working together for a new energy future, addressing the global climate crisis and creating new high-paying jobs on both sides of the Pacific,” said Ed Cunningham, Managing Partner of US-REG.
Cielo is one of the most successful wind farm developers in the United States, accounting for over 1,100 megawatts of wind energy.
Cielo is committed to developing, owning and operating the most cost-effective and environmentally responsible wind power facilities for many load-serving entities throughout the southwestern United States. Texas is the American leader in wind energy and produces over 7,118 megawatts of electricity.
“A $1.5 billion wind energy project that produces 600 megawatts of renewable electricity will be one of the largest undertaking of its kind anywhere in the world,” said
Cielo CEO Walt
Hornaday. “
Cielo is excited to be part of this historic partnership that will not only generate clean, homegrown, renewable energy, but also create a robust economy with new jobs and revenue.”
Earlier this year President Obama and the U.S. Congress created the American Recovery and Reinvestment Act of 2009 to promote innovation and investment in renewable energy. This legislation is clearing the way for increased capital formation and significant clean energy investment. By opening doors to global investment, America is positioning itself as the leader in developing innovative, renewable technologies and bringing clean energy to market.
“It is important to give credit where credit is due,” said Joe Stark, Vice President of Finance and Business Development with
Cielo. “Without the American Recovery and Reinvestment Act of 2009, this joint venture with
SPG would not be possible. Never has there been a more favorable outlook for wind energy investment in the United States.”
US-REG’s mission is to integrate renewable and environmentally sound energy technologies into the American marketplace, while generating tremendous returns with a range of smart and strategic investments in clean energy. US-REG is devoted to strengthening America’s energy independence, environmental quality, and economic vitality through investments in utility-scale projects in wind, hydro, geothermal, solar, and
bioenergy.
For More Information Or To Schedule An Interview, Please Contact Bill Riggs at (202) 429-4929 or BillRiggs@Rational360.com.
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About US-REG: The United States Renewable Energy Group mobilizes and facilitates the participation of international financing and investment in renewable energy projects within the United States. By facilitating the expansion and development of business strategies through managing risks and complexities associated with foreign financing and investment,
USREG provides American businesses with access to international investment options, fosters economic development of the U.S. renewable energy industries and generates new high paying jobs for Americans. To learn more about US-REG visit www.US-REG.com.
About
Cielo Wind Power, LP:
Cielo is a privately held company based in Austin, Texas, that provides services to develop, own and operate wind power facilities in the southwest. Wind
RanchTM is a registered trademark licensed to
Cielo and represents the ideals the company embraces in taking necessary steps to minimize the impact of wind projects on farming, ranching and natural uses of the land. To learn more about
Cielo Wind Power, LP visit www.CieloWind.com.
About Shenyang Power Group: Shenyang Power Group (
SPG), through its partnership with the A-Power Group, is the largest provider of distributed power generation systems in China, focusing on energy-efficient and environmentally friendly projects of 25MW to 400MW. In 2008, A-Power entered the wind energy market and has built China's largest wind turbine manufacturing facility, located in Shenyang,
Liaoning Province, with technologies licensed from German
FUHRLANDER AG and Denmark-based
Norwin, and a total annual production capacity of 1,125MW. In March 2009, A-Power entered into an agreement to establish a Joint Venture partnership with GE
Drivetrain Technologies to produce wind turbine gearboxes in Shenyang. A-Power also has strategic relationships with
Tsinghua University in Beijing and the China Academy of Sciences in Guangzhou to develop and commercialize other renewable energy technologies. To learn more about Shenyang Power Group visit www.APowerEnergy.com.
