AAER to Establish Canadian Wind Turbine Plant
AAER World (Montreal, Canada) announced that it will establish Canada's first wind turbine manufacturing plant next autumn, and that it has already signed a letter of intent to sell 27 turbines to China as well. AAER will sell the 1.5MW turbines to Fujian YongFeng Science and Technology for $49.0 million.
An option to purchase 66 more turbines is included, which would boost the total value of the order to $120.0 million, and company officials say a US group will announce a $200.0 million intent to purchase 120 turbines. An unnamed European company will provide the technology to AAER for exclusive use in the Americas and Asia, and a first round of financing is planned for the fall.