Obama Blocks Chinese Company from Owning Four Wind Farms in Oregon

Obama Blocks Chinese Company from Owning Four Wind Farms in Oregon | Renewable Energy News Article

renewableenergyworld.com 01 Oct '12, 4pm

Obama Blocks Chinese Company from Owning Four Wind Farms in Oregon

The farms pose no threat to U.S. national security and Obama’s move was probably made to serve his election campaign, Xinhua reported Sept. 29, citing Zhou Qing, a legal official with Sany. Zhou said his company will seek a “fair and square result,” according to the news agency. Obama on Sept. 28 ordered Delaware-based Ralls Corp., owned by two Sany executives, to remove all property and installations from its sites within two weeks and divest all of its interests in thewind -farm project within 90 days. It was the first time in 22 years a U.S. president had blocked a transaction as a national security risk. In the area around the sites, the Navy conducts training for bombing, electronic combat maneuvers and develops drones, according to the base’s website. Closely held Sany Group is the owner of China’s biggest machinery maker. Duan Dawei, Sany’s chief financial officer a...

Full article: http://www.renewableenergyworld.com/rea/news/article/2012...

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Obama Blocks Chinese Company from Owning Four Wind Farms in Oregon [link]