Goldwind selling developer stake to China Three Gorges

Wind turbine manufacturer Goldwind has agreed to sell its stake in developer Shangdu Tianrun to China Three Gorges New Energy (CTG-NE) in a deal worth 127m yuan ($20m).

Goldwind holds a 50% share in the developer via its subsidiary company Beijing Tianrun, it told the Hong Kong Stock Exchange.

CTG-NE – the wind development arm of the Chinese group behind the eponymous dam – already owns the other 50% of Shangdu Tianrun, which was set up in 2007 to develop the 99MW Shangdu wind farm.

Shangdu entered full operation in July 2011. Goldwind expects to complete the sale around the end of this month.

Goldwind last month announced the disposal of its wholly-owned blade company Tianhe Blade for 215m yuan,…

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