Shenyang Power Group Co. Ltd., a unit of A-Power Energy Generation Systems Ltd., signed a letter of intent with China Machinery Engineering Corp. (CMEC) involving the development of a proposed 615 MW wind energy project in Texas.
As part of the letter of intent, Shenyang must appoint CMEC as the engineering, procurement and construction contractor for the Texas Wind Farm. CMEC will help Shenyang obtain $260 million in debt financing from Chinese banks and other sources for Spinning Star Energy LLC, the project owner and developer. Spinning Star is a joint venture between United States Renewable Energy Group Wind Partners I LLC and Shenyang.
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