Renewable Energy Asia Group has made further inroads into the PRC wind energy business, by securing a concession to develop a Green Energy Park in Zhenglanqi, Inner Mongolia. REA Group will spearhead the formation of a consortium to construct a wind farm of up to 250 megawatts (MW) in capacity within the Green Energy Park. Green Energy Park is expected to be completed in five years. next billion dollar company??
Renewable Energy Asia expects loss for FY2010 (mar year end) due to legacy of making screws for consumer electronics. Wind power business only recognize for FY2011. C&G also from synthetic yarn change to waste incineration, to new business recognize from FY2010. China Environment in waste gas treatment. FY09 profit after tax Rmb54m.
Guys, You might want to study the windpower business first before commenting on this company\'s prospects. To me, this Company is going from bad to worse. Originally a manufacturer of screws for companies like Innovalues. Now they are heading for self destruction by going into a sector which they have zero experience and no competitive advantage. In brief, whether a windpower company will make money or not, is not determine by how big the wind farm is. It is determine by whether the Company has received license from the local govt to link up to the national grid. I know of several wind farms in China who are already setup but they are not linked to the national grid and have zero income. Good luck to them but I will be avoiding this stock with a 10m pole. :laugh: :laugh: :laugh:
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