SHANGHAI, China, March 11, 2012 /PRNewswire/ - Sunbelt International is pleased to announce it is nearing completion of negotiations with a Chinese manufacturer, Qingdao Xingguang Wind Power Generator Co. Ltd located in Jiaonan city, China. The purpose of the negotiations is for the company to act on behalf of Sunbelt regarding all manufacturing and parts supplies required to produce high quality CE ISO certified wind turbines. The company expects to sign a final agreement within the next few days.
With a steady rise worldwide for wind units, achieving a manufacturing agreement with a reputable manufacturing plant is a key strategy for creating growth, and maintaining a competitive position. Future expansion plans include reaching the Asian market at large, which will be expedited immediately after local production is under way.
In China, installed wind capacity has grown exponentially, from just 0.3GW in 2000 to 42.3GW in 2010. According to the Economist, energy provided by wind now accounts for over 25% of the world's total power capacity, and is expected to continue on this increasing growth rate. Through 2020, wind is expected to account for 34% of new generating capacity, and over 46% from 2020-2030.
Overall, energy demands globally are expected to increase 58% over the next 25 years. Sunbelt International President Fang Soo Liu anticipates rapid expansion within the company as a result of sourcing manufacturing. He further states that, "by securing rights to manufacture our wind turbines with Qingdao Xingguang Wind Power Generator Co., Ltd, Sunbelt International will be in an excellent position to leverage future opportunities."
SOURCE Sunbelt International Inc.