Welwind Energy International Corporation (WWEI) has withdrawn from a joint venture with Ningxia Electric Power Corporation (NEPC) for the Shan Zuo Qi Windfarm Ltd. WWEI withdrew because of lack of operating control for a 49% working interest. The company will focus on its own projects, which include those already underway in China and commencing along with those previously announced in Canada. WWEI is in various stages of negotiation for projects in the US.
Unfortunately, though we have chosen not to pursue our JV with Ningxia Electric, we wish Ningxia Electric success in the future and remain optimistic that we may be able to pursue other equal partnership joint endeavors at a later time, Welwind President Larry McNabb, said.
Shannon de Delley, a director of Welwind, said, New Year’s celebrations are ongoing in China, but we have been corresponding with government officials in China as pertains to the Zhanjiang Windfarm. We anticipate commencing construction on time at the end of the first quarter.