AAER to Establish Canadian Wind Turbine Plant

October 29, 2002 by Jeff Shepard

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.