Navajo Wind Energy Corp. has secured a new 200 MW wind site located in Xinjiang, China.
This site is situated on 6,200 acres. Previous testing, according to the company, indicates a mean average annual wind speed in excess of 11 meters per second or over 25 miles per hour, capable of generating net operating capacity factors in excess of 50 percent.
Navajo Wind Energy has also recently acquired Guangzhou Jianianxiang Co. Ltd., a Chinese wind farm and power trading company. This strategic acquisition is expected to give the company a comparative advantage in developing its wind power generating facilities in China. With this acquisition, Navajo will become one of the only few companies licenced to trade electrical power in and outside of China.
The company has also secured a line of credit financing for up to $2.5 million with private energy fund Xiyas Development Capital Ltd. (XDCL). The company has already drawn $200,000 from the line of credit for acquisitions, development and operations.
Navajo Wind Energy is developing projects in the mainland China. These projects range in size from 10 – 100 MW and will total nearly 500 MW of wind power.
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