Iberdrola has signed a framework agreement with the municipal government of Bayannaoer in the north of China with a view to researching locations for building a wind farm with a capacity of at least 1,000MW.
The installation of this farm is subject both to the findings from the wind measurement studies carried out and to the regulatory framework approved in China, which must be stable and ensure profitable conditions. This agreement assumes that the aforementioned municipal government will sell off the land on which the wind measurements will be carried out. The company will have exclusive rights over a five-year period to perform the wind resource measurements and the studies required in order to build this facility. Iberdrola is committed to installing at least 300MW for 2008 and 1,000MW by the end of 2010, provided that the necessary conditions of profitability and investment security are fulfilled.
