KaidiPower Pinglu Wind Farm Phase I Project WindTurbine Equipment Supply Contract This document is a summarytranslation of key terms only from the original contract that is written inChinese.It is a summary, not a complete translation, and not allwords or meanings may have the same effect as in the originalcontract.
EX-10.22 4 v181041_ex10-22.htm Unassociated Document
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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.
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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 |
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| 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. |
