An arbitration award has ordered China's Aviation Industry Corporation or AVIC to pay over 70 million U.S. dollars to an U.S. wind firm for breach of contract.
AVIC did not immediately respond to requests for comment.
Dallas-based Tang Energy earlier filed the case to a local arbitration association saying that AVIC did not fulfill their agreements.
The agreements included that AVIC would help fund a West Texas wind farm and develop a global wind energy business as part of a joint venture, Soaring Wind Energy.
The company demanded over 2 billion dollars of compensation based on projects AVIC developed without Soaring Wind in other parts of the world.
The decision still needs to be further confirmed by a higher district court.
Source:
http://english.cri.cn/12394/2015/12/23/3521s909710.htm