Talking about Chinese banks to fund $1.5B Texas wind farm – Yahoo! News

 

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Chinese banks to fund $1.5B Texas wind farm – Yahoo! News
China took a big leap into the U.S. renewable energy market Thursday, putting up $1.5 billion for a 36,000-acre wind farm in Texas with the power to light up 180,000 homes.The project is a joint venture with U.S. Renewable Energy Group, a private equity firm, Austin, Texas-based Cielo Wind Power LP and Shenyang Power Group of China.The announcement Thursday shows how much China’s own wind industry has burgeoned and comes two days after U.S. Energy Secretary Steven Chu told lawmakers that the U.S. was falling behind China and others in alternative energy investment."With a long track record for building some of the world’s biggest wind farms, the U.S. is a real ideal target for foreign alternative energy investment," said Jinxiang Lu, Shenyang Power Group’s chairman and chief executive.Executives would only say that the project will be located in West Texas and built within several counties.

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