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Chinese Banks To Fund Texas Wind Farm

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Chinese Banks To Fund Texas Wind Farm

Business

Chinese Banks To Fund Texas Wind Farm

Chinese Banks To Fund Texas Wind Farm

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Two Chinese power companies and their American partners have announced plans to build a big wind farm in West Texas. The turbines will be manufactured in China. Chinese banks will finance much of the project, which will cost about $1.5 billion. The U.S. government will provide some backing as well.

RENEE MONTAGNE, host:

NPR's business news starts with Chinese wind power in Texas.

(Soundbite of music)

MONTAGNE: China is taking note of the Obama administration's push for clean energy. Two Chinese power companies and their American partners yesterday announced plans to build a big wind farm in West Texas. The turbines will be manufactured back in China and banks there will finance much of the project, which will cost about $1.5 billion. The U.S. government will provide some backing as well.

A Chinese official said this would be the first time a Chinese company exported wind turbines to the U.S. The project should power up 180,000 homes.

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