Datang New Energy "falls" Australia

Yesterday, Bloomberg reported that China Datang Group New Energy Co., Ltd. (Datang New Energy, 01798. HK) and Baoding Tianwei Baochang Electric Co., Ltd. (Tianwei Baoteng, 600550) and its Australian partner acquired the British RES. Group's 100 MW wind power project in New South Wales.

The Australian partner is Australian CBD Energy Company. The acquisition was made through AusChina Energy Group, a joint venture between Datang New Energy, Tianwei Change and CBD Energy. AusChina Energy Group was established on April 18 this year. According to the agreement, Datang Renew Energy will hold 63.75% of the shares of the joint venture company, CBD Energy holds 23.75% of the equity, and Tianwei Baohe holds 12.5% ​​of the shares.

CBD Energy Company stated on the 21st that the 61 fans of the Taralga wind farm have been approved by the government. The construction of wind farms began this year and is expected to be completed in 2013.

It is worth noting that Mark Weill, chairman of CBD Energy, is the former Deputy Prime Minister of Australia. On the day of the listing of AusChina Energy Group, Mark Weil said that the development of Australia cannot be achieved without close cooperation with China. The new company will surely create jobs for Australia and promote economic growth. According to the announcement of CBD Energy, the business scope of the joint venture company includes renewable energy such as wind power and solar energy. It is planned to build a wind power and solar power plant worth A$3 billion within 3 years, and the total investment plan for the next 8 years will be as high as 60. Billion Australian dollars (about 41.2 billion yuan), its development goal is to obtain 33% of Australia's renewable energy market share.

According to the agreement, the two Chinese companies will provide the necessary equipment and financial support for the project.

Chen Dangxin, Chairman of Datang New Energy, previously disclosed that Datang Renewable Energy has carried out preliminary work in Australia, the United States, Canada, Brazil, Europe and other countries, and has achieved certain results. It is expected that projects will be started this year. The purchase of wind farms in Australia will be the first step in Datang New Energy's overseas operations.