Baoding Tianwei Baobian Electric Co., Ltd. (TWBB) announced on April 1 that the company signed an agreement with Sino-US Pan-Pacific Investment Co., Ltd. (Pan-Pacific) on March 28. Based on the agreement, Pan-Pacific will contribute RMB156.2M (based on the RMB/USD exchange rate of the trade day) to Baoding Tianwei Wind Power Technology Co., Ltd (BTWPT) with enlarged share capital mode.

After the share increase, the registration capital of BTWPT reached RMB406.2M. Therein, Tianwei Baobian remained RMB250M or 62% of the total, and the rest 38% was contributed by Pan-Pacific.

BTWPT, a whole subsidiary of TWBB, was established on March 23, 2006 with RMB250M of registration capital. The company specializes in R&D, design, manufacturing, marketing and after-sale service of wind and power equipment and its related sets.

Pan-Pacific is a US-based new energy VC. It owns large capital base and wind & power industry resources.