China WindPower to invest $731m in new capacity

China WindPower Group is planning to invest US$73.1 million into each of 10 different wind generation projects, the South China Morning Post reported. The projects would see China WindPower’s capacity increase almost four times to 268 megawatts by March 2010. The company will hold stakes of 25-60% in each project. China’s wind power capacity has nearly doubled in each of the past four years after the central government ordered power distributors to buy all of the nation’s wind power output and offered developers tax incentives. However, problems including substandard equipment, inadequate investment in power grids and poor project site selection have created problems with specific projects.