It is a sad day for the U.S. renewable energy business. A-Power Energy Generation Systems Ltd. (APWR), a Chinese producer of wind power turbines, has won the contract to provide turbines for one of the largest wind farms in America. The project, located in West Texas, will cost $1.5 billion, part of which will almost certainly be put up by Chinese banks. The company said that "Upon completion, it is anticipated to generate enough electricity for 180,000 homes in America."
According to a number of media sources, U.S. manufacturers of wind turbine components have had trouble getting financing during the recession. That means they had no realistic chance of bidding on the contract for the facility, which is expected to begin operating by 2011 and could create as many as 2,800 jobs.