Unassociated Document


    Exhibit
10.9

    (English
Translation)

     

    Short
Term Loan Agreement

     

    Date:
October 14, 2010

    Location:
Beijing, China

    


    The
Borrower: CleanTech Innovations, Inc.

    Authorized
Representative: Bei Lu, Chairman & CEO

    


    The
Lender: Strong Growth Capital Ltd.

    Authorized
Representative: Li Ming

    


    On the
basis of equal consultations, the Borrower and the Lender have reached the
following agreement regarding the Short Term Loan:

    


    
      	
              Article
      1 

            	
              Amount
      of the Loan, Interest Rate and Term of the
Loan

            


    

    


    Purpose
of the Loan: Raise working capital in the course of business of the
Borrower.

    Amount of
the Loan: The Lender will lend $1,500,000 USD to the Borrower as a short term
loan.

    Mode of
the Loan: The Lender will remit all funds by wire transfer.

    Interest
Rate of the Loan: The annual interest rate of the Loan is 10%, computed on the
basis of the actual number of days elapsed, commencing from the date when the
Lender wires the funds.

    Arrangement
of the Loan: The Lender should remit all the funds in one time to the Borrower’s
designated TD Bank account bearing the same name as the Borrower’s name. The
Borrower should be responsible for wire transfer fees that are incurred by both
the Lender and the Borrower.

    


    The
Borrower’s designated bank account is:

    


    Bank
Name: TD Bank

    Beneficiary
Name: CleanTech Innovations, Inc.

    Beneficiary
Address: 44 Wall Street, New York, NY 10005, USA

    


    Account
Number:

    ABA
Number: 026013673

    Swift
Code: NRTHUS33

    Bank
Address: 2 Wall Street, New York, NY 10005, USA

    


    
      	
              Article
      2 

            	
              Term
      of the Loan and Mode of Repayment

            


    

    


    
      	
               
      

            	
              1.

            	
              The
      Borrower shall repay the principal and the interest calculated by the
      annual interest rate of 10% in RMB (computed on the basis of the actual
      number of days elapsed, commencing from the date when the Lender wires the
      funds and ending on the date when the Borrower’s repayment of the
      principal and the interest are received by the Lender’s designated
      account). The repayment of the principal and the interest shall be wired
      to the Lender’s designated account in one time. The conversion between US
      Dollar and RMB Yuan shall be determined by a fixed exchange rate 1 US
      dollar=6.9 yuan RMB. If at the date of the repayment, the currency
      exchange rate is higher than the fixed exchange rate set forth herein, the
      higher currency exchange rate shall be
adopted.

            


    


    
      
         


      

      
         


        
          

        

      

      
         


      

    

    


    
      	
               
      

            	
              2.

            	
              With
      the Lender’s written consent, the Borrower shall be able to repay the
      principal and the interest in full or in part before the expiration of the
      Term of the Loan. If the Borrower or the Borrower’s subsidy or any
      Borrower related company completes a financing of 2 million US dollars or
      equivalent RMB yuan by any means, the Lender shall have right to require
      the Borrower to repay the principal and the interest of the Loan at any
      time.

            


    

    


    
      	
              Article
      3 

            	
              Penalty
      for Breach of the Agreement

            


    

    


    If the
Borrower does not repay the Loan or not repay the principal and the interest in
full according to the agreed schedule set forth herein, the Borrower shall pay
3/10 of 1% of the balance of the unpaid principal on daily basis as penalty for
breach of the Agreement. The penalty shall be computed by this formula until the
full repayment of the principal and the interest: the balance of the unpaid
principal times 3/10 of 1% times the number of days overdue.

    


    
      	
              Article
      4 

            	
              Public
      Company Disclosure Requirement

            


    

    


    The
Borrower is a public company in the United States. The Borrower is obligated to
require its legal counsel to disclose this Agreement to the U.S. Securities and
Exchange Commission (the “SEC”) within 3 business days after receiving the wired
funds of the Loan. The Borrower also confirms that its legal counsel, The Newman
Law Firm, has reviewed and agreed upon all clauses in this Agreement without any
dissents.

    


    
      	
              Article
      5 

            	
              In
      Case of Dispute and Applicable Law

            


    

    


    The
Borrower and the Lender confirm and agree that the United States District Court
for the Southern District of New York is the sole and final place where any
disputes and litigation shall be resolved. This Agreement shall be governed in
accordance with the laws of the State of New York. The final decision of this
Court (including the decision of appeal) shall be enforceable to both
parties.

    


    The
Borrower and the Lender shall be able to reach supplemental agreement regarding
any uncovered issues by this Agreement. The supplemental agreement shall have
the same legal force as this Agreement. If the Borrower and the Lender reach any
supplemental agreement, the Article 4 “Public Company Disclosure Requirement”
set forth herein shall remain applicable.

    


    Article
6

    


    This
Agreement shall become effective upon the signature of the Borrower’s and the
Lender’s authorized representatives.


    
      
         


      

      
         


        
          

        

      

      
         


      

    

    


    Article
7

    This
Agreement shall be provided in two copies, with each party holding one copy. The
copies and the original of this Agreement shall have the same legal
validity.

    


    
      
        	
                The
      Borrower: CleanTech Innovations, Inc.

              
	
                Authorized
      Representative: Bei Lu, Chairman & CEO

              
	 
      
	
                /s/ Bei Lu

              	
                 (signature)

              
	 
      
	
                The
      Lender: Strong Growth Capital Ltd.

              
	
                Authorized
      Representative: Li Ming

              
	 
      
	
                /s/ Li Ming

              	
                 (signature)