Chinese manufacturer in $1.5 bln U.S. wind project

HONG KONG Fri Oct 30, 2009 1:26am EDT

HONG KONG Oct 30 (Reuters) - Chinese wind turbine manufacturer A-Power Energy Geneneration Systems APWR.O said it was building along with U.S. companies a $1.5 billion wind farm project in West Texas.

Construction of the wind farm, one of the largest wind development projects in the United States, would be funded by Chinese banks, the company said in a joint statement.

Policies supporting the environment are boosting clean energy investment in the United States, with U.S. President Barack Obama earlier this year pushing for the American Recovery and Reinvestment Act of 2009 to promote innovation and investment in renewable energy.

The wind farm project will have a capacity of 600 megawatts, enough to supply electricity to 180,000 Texas homes.

A-Power, China's largest provider of distributed power generation systems in China, is supplying the wind turbines for the project, the company said, with delivery expected in March 2010.

A-Power's partners in the project are U.S. Renewable Energy Group, an asset management firm, and Cielo Wind Power, a wind developer based in Austin, Texas.

The companies will be developing the wind farm across 36,000 acres, with the project expected to create hundreds of jobs, it said.

(Reporting by Leonora Walet; Editing by Jonathan Hopfner)

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