Navajo Wind Energy Corp. (formerly Caliber Energy Inc.) announced that it has secured a new 200 MW wind site located in Xinjiang, China. This site is situated on 6,200 acres and is in an area with proven, high-energy wind speeds. Previous testing indicates a mean average annual wind speed in excess of 11 meters per second or over 25 miles per hour, capable of generating net operating capacity factors in excess of 50 percent.
The Xinjiang Project is the second announcement of many new acquisitions that Navajo Wind Energy is currently developing as part of the previously announced "China Initiative."
China's rapidly growing demand for renewable energy and the scarcity of viable wind farm sites to create the available supply, positions Navajo Wind Energy uniquely in this competitive market place through the utilization of the Company’s expertise and industry contacts.
Barry Doyle, CEO states, "There was tremendous competition from the largest players in the investment banking and energy industries to acquire this exact piece of property. Navajo Wind's access to proprietary information dating back to the 1990s allowed the Company to seize this opportunity several weeks before our competition. We are extremely proud of this accomplishment."
Navajo Wind Energy is currently conducting environmental studies to complete the permitting process.