SANY group, one of the China's top construction machinery manufacturer, plans to invest $1.5 billion in the development of wind energy in Punjab. SANY group together with the Punjab Board of Investment and Trade, is considering sites for wind farms.
Ryan Zhao, a top representative of SANY group said that SANY group continues to make sustainable efforts to develop business in Punjab’s emerging economy. He was visiting Punjab Board of Investment and Trade to discuss SANY group’s plans and to supplement the status of proposed sites and the further procedure to initiate their projects with Punjab Power Development Board (PPDB).
PBIT has shared renewable energy mapping report with SANY Group prepared by World Bank to identify sites for wind projects. SANY group has already selected two sites for wind mast installation in Punjab and submitted land application letter with the geographical coordinators of selected sites. PPDB has asked them to go through the process of registration so that Letter of Intent can be issued for further progress. PPDB has been established as “one window facilitator” to promote and encourage private sector on behalf of Govt. of Punjab.
SANY Group is the fifth largest construction machinery producer in the world and number one in China. It is a global manufacturer of industry-leading construction and mining equipment, port and oil drilling machinery, and renewable wind-energy systems. It has signed an MOU with Punjab Power Development Board earlier in May to install 1000 MW wind power projects in Punjab over a period of five years and has also signed an MOU with PBIT for facilitation purpose.