Home Must Reads Chinese executive says Obama's wind farm halt a "political show"

Chinese executive says Obama's wind farm halt a "political show"

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Must Reads
Friday, October 19, 2012

The Obama administration's decision to block a Chinese investment in an Oregon wind farm was called a "political show and bureaucratic nonsense" by a Chinese executive.

So said Wu Jinliang, deputy vice president at Sany Group yesterday at a press conference in Beijing, according to a report in today’s state-published Shanghai Daily. Plans by Sany affiliate Ralls Corp. to build four wind farms next to a navy base in the northwestern state were blocked on national security grounds, the first move of its kind in 22 years. Wu is the CEO of Ralls, and the Chinese investors are challenging the U.S. action in court, the newspaper said.

Ralls bought the then-approved farms from a Greek company earlier this year and stands to lose $20 million from the U.S. decision, according to the report in the Shanghai Daily.

Read more at Forbes.

{biztweet}wind farm oregon{/biztweet}

 

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