Unassociated Document


    


     

    
      	
              

            


    

     

    Kaidi
Power Pinglu Wind Farm Phase I Project

     

    Wind
Turbine Equipment Supply Contract

     

    


     

    This document is a summary
translation of key terms only from the original contract that is written in
Chinese.  It is a summary, not a complete translation, and not all
words or meanings may have the same effect as in the original
contract.


    
      
         


      

      
         


        
          

        

      

      
         


      

    


    
       

      
        	
                

              


      

    

     

    Date:
September, 2008

     

    Venue:
Wuhan

    


     

    
      	
              1.

            	
              Definition

            


    

     

    
      	
              1.1.

            	
              “Buyer” means Wuhan
      Kaidi Electronic Project Ltd.

            


    

     

    
      	
              1.2.

            	
              “Supplier”
      means Wuhan Guo Ce Nordic New Energy
Ltd.

            


    

     

    
      	
              2.

            	
              Contract

            


    

     

    
      	
              2.1.

            	
              This
      contact should include 50 units of GCN1000 wind turbines for the
      buyer’s
      Kaidi Power Pinglu Wind Farm
Project.

            


    

     

    
      	
              2.2.

            	
              The
      supplier should be responsible for transportation and
      insurance.

            


    

     

    
      	
              2.3.

            	
              Within
      15 years after the verification check, supplier is liable to provide the
      necessary replacement parts to maintain the operation of its equipment at
      market price.

            


    

     

    
      	
              3.

            	
              Contract
      terms

            


    

     

    
      	
              3.1.

            	
              Total
      contract price is at RMB 321.7 million,
  including:

            


    

     

    
      	
              3.1.1.

            	
              50
      units of wind turbines at RMB 300 million (50units×RMB 6 million per
      unit)

            


    

     

    
      	
              3.1.2.

            	
              Technical
      service fees at RMB 5.465 million

            


    

     

    
      	
              3.1.3.

            	
              Transportation
      and other expenses: RMB 9.2805
million

            


    

     

    
      	
              3.1.4.

            	
              Replacement
      parts and specialized tools: RMB 6.9545
million

            


    

     

    
      	
              4.

            	
              Payment
      terms

            


    

     

    
      	
              4.1.1.

            	
              Within
      30 days after the contract effective date, buyer should pay 10% (RMB 600
      thousand) of the total price per unit to the supplier as
      deposit

            


    

     

    
      
         


      

      
         


        
          

        

      

      
         


      

    

    
       

      
        	
                

              


      

       

    

    
      	
              4.1.2.

            	
              30%
      of the total price per unit to be paid when the production progress reach
      60%

            


    

     

    
      	
              4.1.3.

            	
              30%
      of the total price per unit to be paid within 30 days after
      delivery

            


    

     

    
      	
              4.1.4.

            	
              25%
      of the total price per unit to be paid within 30 days after the initial
      verification

            


    

     

    
      	
              4.1.5.

            	
              5%
      of the total price per unit as retention money to be paid within 30 days
      after the final verification letter

            


    

     

    
      	
              4.2.

            	
              Technical
      service fees, transportation cost, replacement parts cost, and specialized
      tools cost total at RMB 21.70 million, per unit is at RMB 434 thousand, to
      be paid before the delivery.