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SINGAPORE: Catalist-listed Renewable Energy Asia (REA) will form joint-venture firms with a subsidiary of state-owned power producer China Datang Corporation.
The firms will engage in wind energy related activities, namely engineering, procurement, and construction or EPC of wind farms, as well as wind turbine component manufacturing.
In these firms, REA will hold a 51 per cent equity stake while Datang will hold the remaining 49 per cent.
In addition, the joint venture firms will also engage in wind farm development and electricity generation.
In these firms, REA will have a 49 per cent stake, while Datang will hold 51 per cent.
REA said, in the near term, it expects to derive its operating income from EPC projects, while long-term recurring income should come from its wind farm development and electricity generation business. - CNA/vm
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