Hytex and Gezhouba to Build 50 MW Wind Farm
Hytex Integrated Bhd is making its maiden foray into the energy-generation sector after signing a memorandum of understanding (MoU) with China’s Gezhouba Group Electric Power Co Ltd to collaborate in the development of a 500 million yuan maglev wind farm in Guizhou Province, China.
In a statement, Hytex said Gezhouba had been appointed as turnkey contractor to develop the wind farm on a build-and-transfer basis for Hytex, and it expected a final agreement to be concluded with Gezhouba in the second quarter.
The MoU was signed via Hytex’s unit, Hytex Integrated (Suzhou) Co Ltd (HIS), with Gezhouba. Gezhouba is a unit of China Gezhouba Group, a Hubei-based construction and engineering company which was the main contractor of the Three Gorges Project.
“The 50MW Guizhou maglev wind farm project will cost an estimated 500 million yuan to develop and build. Upon completion, it is expected to produce more than 200GW of electricity annually for the China Southern Grid in Taijiang county which has a population of more than 60 million people,” it said.
Work on the project is expected to begin in October and will be completed by October 2015. It would be based on a projected concession period of 30 years with an option extension of 20 years.
Meanwhile, HIS and its green technology partner, Shenzhen Timar Scenery Energy Technology Co Ltd (STSET), will fabricate and supply the maglev wind turbines and other equipment required.
HIS and STSET will also provide the technical skills and expertise required to develop and build this renewable energy facility. HIS teamed up with STSET earlier in February under a joint venture wind farm agreement to develop a wind farm project.