- Published: 21 February 2006 21 February 2006
Tersus Energy has announced the completion of a US$ 2 million investment in the Chinese rotor blade manufacturer ZhongHang (Baoding) Huiteng Wind Power Equipment Co., Ltd (HT Blade).
HT develops, manufactures and sells 600 kW to 1.5 MW rated rotor blades and related glass reinforced plastic parts and components to domestic and international customers in China, and intends to expand sales to other selected Asian markets. Tersus’ US$ 2million investment has been made through Tang Wind Energy LP (TWELP) as a convertible loan and is conditional upon the completion of certain partnership formalities (expected to be completed in the next 10 days).TWELP was established with the single purpose of holding its interest in HT Blade. Upon conversion, Tersus will have a stake of approximately 12.1% of TWELP. Tersus expects to work with the management of TWELP and of HT Blade in its strategic development and planned initial public offering.