Posts tagged “wind farm”
In a word – yes.
Last week the President issued an order requiring Ralls Corporation, which is owned by Chinese nationals (and is closely associated with the Chinese wind turbine manufacturer Sany), to cease development activities and divest its interest in four wind farms in Oregon. The order was issued based on recommendations from the Committee on Foreign Investment in the United States (CFIUS). CFIUS is responsible for reviewing foreign investments in the U.S. to ensure that foreign ownership of U.S. assets will not present a national security risk.
President Barack Obama has blocked a Chinese company from owning interests in four northern Oregon wind farms, citing national security risks given their close proximity to a United States military base where unmanned drones and electronic-warfare planes are tested.
The decision marks the first time in more than 22 years that an American president has vetoed a foreign business deal in the interest of American security. While every American president has the power to void foreign transactions involving United States-based businesses under the Defense Production Act, the ability has not been exercised since President George H.W. Bush preempted the sale of Mamco Manufacturing to a Chinese-owned agency in 1990. (See more: Wind Power Layoffs Abound as Industry Threatened by Tax Credit Expiration)
The wind farms, to be built between 2011 and 2017, will eventually add 1,500 megawatts of capacity to Romania’s energy grid.