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Exhibit 10.11
Memorandum of
Understanding
Party A: Kangbao County
Government of Hebei Province
Chuzhangdi
Town Government
Party B: Cathay Merchant Group
(Shanghai) Wind Energy Co., Ltd.
In accordance with the principles
of equality and mutual benefit, Party A and Party B hereby sign
this MOU based on their discussions on January 28, 2005.
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1.
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Party B, subject to commercial,
technical and legal parameters being met satisfactory to it,
intends to construct a Wind Power Plant (about east longitude
114º22'30"— 114º27’14" , north latitude
41º45'— 41º50') within about 50km 2 of
Chuzhangdi Village which is governed by Party A. The above
longitude and latitude points shall be confirmed by both Parties
soon.
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2.
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In order to establish the exact
location for the wind turbines Party B will install its
wind-measurement equipment soon after signing of this Memorandum of
Understanding and Party A herewith grants Party B the right to use
the above land for one year for wind measuring. Party A is entitled
to terminate its approval if Party B fails to install its wind
measuring equipment consisting of at least one wind measuring tower
within above period of time.
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3.
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The construction scale shall be
in accordance with the topography and landform. The installation
scale for the engineering of one phase shall be approximately
50,000 kw.
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4.
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Party A shall provide Party B
with its Certificate of Land Use Rights to certify that it is
entitled to lease the afore-mentioned land.
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5.
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As soon as possible following the
location of the wind turbines is known, Party B, by or with the
assistance of Party A, shall be granted valid land use rights by
either a lease agreement or otherwise granting of such rights. The
price payable shall relate exclusively to a reasonable size around
the wind turbines and the specific price shall be confirmed through
negotiations between both Parties.
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