Unassociated Document


    Da
Qing Long Jiang Wind Farm Project

     

    50MW
Wind Turbines 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:
August 30, 2007

     

    Venue:
Wuhan

     

    
      	
              1.

            	
              Definition

            


    

     

    
      	
              1.1.

            	
              “Buyer” means Da
      Qing Long Jiang Wind Power Ltd.

            


    

     

    
      	
              1.2.

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

            


    

     

    
      	
              2.

            	
              Contract

            


    

     

    
      	
              2.1.

            	
              This
      contact should include manufacturing, transportation, installation,
      testing, successful production and quality assurance of wind turbines
      equipment (towers are not included). This contract should also include all
      the accessories equipment, replacement parts, specialized tools, blue
      prints, technical support, training and all the technical documents to
      ensure the installation, testing, training, technical support, operation
      and maintenance.

            


    

     

    
      	
              2.2.

            	
              Condition
      of equipments delivery: The equipments should be delivered to buyer at the
      project site. Supplier should be responsible for the train/ship
      arrangement to deliver the equipments to the site that designated by the
      buyer.

            


    

     

    
      	
              3.

            	
              Products
      and equipments

            


    

     

    
      	
              3.1.

            	
              Suppler
      to should supply the following equipments to the
  buyer:

            


    

     

    
      	
              3.1.1.

            	
              1st
      batch should include:

            


    

     

    
      	
              No.

            	
              Equipment
      name

            	
              Type

            	
              Units

            	
              Delivery
      date

            	
              Venue

            
	
              1

            	
              Wind
      turbines

            	
              DW1.0/56

            	
              10

            	
              4
      Ms aft. the signing date

            	
              Project
      site

            
	
              2

            	
              Centralized
      surveillance system

            	
              DW-CT02

            	
              1

            	
              4
      Ms aft. the signing date

            	
              Project
      site

            
	
              3

            	
              Replacement
      parts

            	 
      	
              1

            	
              4
      Ms aft. the signing date

            	
              Project
      site

            
	
              4

            	
              Consumable
      products

            	 
      	
              1

            	
              4
      Ms aft. the signing date

            	
              Project
      site

            
	
              5

            	
              Specialized
      tools

            	 
      	
              1

            	
              4
      Ms aft. the signing date

            	
              Project
      site

            
	
              6

            	
              Training
      (domestic)

            	 
      	
              120ppls
      days

            	
              2
      Ms aft. the signing

            	
              Wuhan

            
	
              7

            	
              Training
      (oversea)

            	 
      	
              30ppls
      days

            	
              2
      Ms aft. the signing

            	
              Sweden

            
	
              8

            	
              Installation
      and testing

            	 
      	 
      	
              1
      Week aft. equipment delivery

            	
              Project
      site

            
	
              9

            	
              Technical
      support

            	
              24
      months

            	 
      	
              After
      installation

            	
              Project
      site

            
	
              10

            	
              Technical
      documents

            	 
      	
              10

            	
              Prior
      to signing contract

            	
              Project
      site

            
	
              11

            	
              Transportation
      and insurance

            	 
      	
              10

            	
              To
      be arranged before transportation

            	
              Project
      site

            


    


    
      
         


      

      
         


        
          

        

      

      
         


      

    

     

    
      	
              3.1.2.

            	
              2nd
      batch should include:

            


    

     

    
      	
              No.

            	
              Equipment
      name

            	
              Type

            	
              Units

            	
              Delivery
      date

            	
              Venue

            
	
              1

            	
              Wind
      turbines

            	
              DW1.0/56

            	
              40

            	
              10
      Ms aft. receiving the notice from the buyer

            	
              Project
      site

            
	
              2

            	
              Replacement
      parts

            	 
      	
              1

            	
              10
      Ms aft. receiving the notice from the buyer

            	
              Project
      site

            
	
              3

            	
              Consumable
      products

            	 
      	
              1

            	
              10
      Ms aft. receiving the notice from the buyer

            	
              Project
      site

            
	
              4

            	
              Installation
      and testing

            	 
      	 
      	
              1
      Week aft. equipment delivery

            	
              Project
      site

            
	
              5

            	
              Technical
      support

            	
              24
      Ms

            	 
      	
              After
      installation

            	
              Project
      site

            
	
              6

            	
              Technical
      documents

            	 
      	
              40

            	
              Prior
      signing the contact

            	
              Project
      site

            
	
              7

            	
              Transportation
      and insurance

            	 
      	
              40

            	
              To
      be arranged before transportation

            	
              Project
      site

            


    

     

    
      	
              4.

            	
              Contract
      terms

            


    

     

    
      	
              4.1.

            	
              Total
      contract is valued at RMB 316.900238 million,
  including:

            


    

     

    
      	
              4.1.1.

            	
              50
      units of wind turbines at RMB 287.50 million (50units×RMB 5.75 million per
      unit)

            


    

     

    
      	
              4.1.2.

            	
              Others
      at RMB 29.400238 million, including technical documents, technical service
      fees, taxes, transportation costs, insurance and other expenses related to
      the contract.

            


    

     

    
      
         


      

      
         


        
          

        

      

      
         


      

    


    
      	
              5.

            	
              Payment
      terms

            


    

     

    
      	
              5.1.1.

            	
              Within
      30 days after the contract effective date, buyer should pay 5% (RMB 15.845
      million) to the supplier as deposit

            


    

     

    
      	
              5.1.2.

            	
              Within
      60 days after the contract effective date, buyer should pay 25% of the
      1st
      batch equipment price (RMB 15.6875 million) to the supplier as
      pre-payment.

            


    

     

    
      	
              5.1.3.

            	
              Upon
      the delivery of the equipment at project site, buyer should pay 35% of the
      1st
      batch equipment price (RMB 21.9765 million) to
  supplier

            


    

     

    
      	
              5.1.4.

            	
              Upon
      successful testing, the buyer should pay 30% of the 1st
      batch equipment price (RMB 18.837 million) to
  supplier.

            


    

     

    
      	
              5.1.5.

            	
              Retention
      money as 5% of the 1st
      batch equipment price (RMB 3.1395 million) to be paid by buyer after
      signing the final acceptance
letter.

            


    

     

    
      	
              5.2.

            	
              Payment
      terms of the 2nd
      batch equipments:

            


    

     

    
      	
              5.2.1.

            	
              After
      receiving a written notice from the buyer, and within 30 days that the
      supplier commences the production of the 2nd batch equipments, the buyer
      should pay 25% of the 2nd batch equipment price (RMB 63.5275 million) as
      pre-payment to the supplier.

            


    

     

    
      	
              5.2.2.

            	
              35%
      of the 2nd
      batch equipment price (RMB 88.9385 million) should be paid to the supplier
      after buyer receives the
equipments.

            


    

     

    
      	
              5.2.3.

            	
              30%
      of the 2nd
      batch equipment price (RMB 76.233 million) to be paid after installation
      and testing.

            


    

     

    
      	
              5.2.4.

            	
              5%
      retention money (RMB 12.7055 million) to be paid after signing the final
      acceptance letter.