By OGJ editors
HOUSTON, Nov. 3 -- Cathay Merchant Group Inc., an affiliate of MFC Bancorp Ltd., is developing its first wind energy project in China.
The Twin Dragon Wind Farm is planned as a 160 Mw project in Hebei Province, a site chosen by Cathay Merchant Group for its "world-class wind resources" in a large gap facing the Inner Mongolia Autonomous Region. The first phase of development will have capacity of 100 Mw (50-70 wind turbines) at an expected cost of $125 million. The projected annual output from this phase is 400,000 Mw-hr, and Cathay expects the project also will be eligible to sell emission credits for the reduction of 300,000 tons/year of carbon dioxide.
