E4 Group Says Goldwind Seeks to Build Wind Blade Plant in Russia

Xi’an Electric (300140) Engineering Co. and Goldwind International Holdings (HK) Ltd., are considering a partnership to build a plant in Russia that will build wind power equipment, according to the engineering company E4 Group.

The companies held an introductory meeting where each gave a presentation about the project, Elena Gurianova, press secretary for E4 Group, said by telephone today. The facilities make blades for wind turbines and generators, she said.

Russia has required that a certain amount of equipment for wind and solar generation be manufactured in Russia in order for producers to gain investment subsidies. Wind power in Russia is currently negligible as a source of energy.

Electronic equipment for the slated plant would be supplied by Xi’an Electric Engineering, which is part of the China XD Group, according to the statement.

E4 Group sees possible partnerships with Chinese companies leading to potential international development and new large projects, according to the statement.

Goldwind’s parent company, Xinjiang Goldwind Science & Technology Co. (2208), said it wasn’t ready to give a detailed timetable or plans for developments in Russia. “We keep our interests in the Russian market,” Goldwind said in an e-mailed statement.

Goldwind shares have been halted from trading in Shenzhen and Hong Kong since Aug. 27 because the company is planning a “major event,” Goldwind said earlier this week.

To contact the reporter on this story: Stephen Bierman in Moscow at sbierman1@bloomberg.net

To contact the editors responsible for this story: Will Kennedy at wkennedy3@bloomberg.net Reed Landberg, Alex Devine

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