The manufacturer of state-of-the art twin-blade wind turbines has announced that it plans to develop several local offshore wind farms, each offering 500 MW of capacity. Initial estimates by the company place the value of potential orders for a project of this scale at approximately $732 million. GC China declares that it aims “to work in conjunction with regional vendors” and has further identified localised industry suppliers that it believes “would ultimately benefit the venture as either merger or acquisition opportunities”.
The company plans to further increase momentum at its Swedish joint venture R&D facility towards final stage development of a new 3.0 MW turbine as the prime offering best suited to exploit the extraordinary wind conditions in the Jiangsu area. Current plans are to initiate a 2010 campaign of regional target acquisitions, upgrades at key local facilities and commencement of trial production and manufacturing of the new turbines.
In a move similar to many European countries, China has attached increasing importance to the development of its offshore wind assets. Compared to inland wind energy markets, the wind resource reserves are significantly more abundant in coastal areas. Research shows that the potential wind energy reserve in inland areas is 250 GW, versus 750 GW along the coast. Among the government mandated programs announced to-date, which include seven projects encompassing 10 GW of wind energy, the coastal area in Jiangsu province is the primary location and key to construction planning of what many are now referring to as the "Marine Three Gorges Project" as a favourably comparative reference to the largest traditional hydroelectric project constructed in China so far.
GC China Turbine Corp. views this opportunity as an extraordinary step in its long-term growth plans and fully intends to maximise any investment via its proven management ability applied towards the development of a world-class manufacturing base and support infrastructure around what is rapidly becoming the hottest spot in the nation for the future of wind power in China.
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