Interim Rules on Economic Assessment of Electrical Engineering Retrofit Projects is not applicable to wind projects in benchmark IRR selection. Benchmark of pre-tax project IRR is 5% (Table 2.13-1) and post-tax equity IRR is 8% (Table 2.13-2) for wind projects as indicated in Economic Evaluation Methods and Parameters for Construction Projects (3rd Edition), jointly issued by NDRC and Ministry of Construction on July 3, 2006. This document is the compilation basis of financial analysis for wind projects, which is widely used in China (http://www.hydrocost.org.cn/costSoftware/windsoftware.jsp).

According to National Taxation Law, a) the first 3 years are exempted from income tax, half in the fourth to sixth year; b) VAT refund for equipment investment; c) half VAT payment.

Approved total dynamic investment is 438,790,000 CNY (http://webcache.googleusercontent.com/search?hl=zh-CN&gbv=2&gs_l=hp.3...2329l2329l0l3094l1l1l0l0l0l0l62l62l1l1l0.frgbld.&q=cache:7ZaYD_tfU_cJ:http://www.shanxigov.cn/n16/n1398/n2108/n5731/n7614959/15892494.html+%E5%8D%8E%E8%83%BD%E6%96%B0%E8%83%BD%E6%BA%90%E8%82%A1%E4%BB%BD%E6%9C%89%E9%99%90%E5%85%AC%E5%8F%B8%E7%B9%81%E5%B3%99%E5%8E%BF%E4%B8%8A%E7%8B%BC%E6%B6%A7%EF%BC%88%E7%A0%82%E6%B2%B3%E4%B8%80%E6%9C%9F%EF%BC%8949.5%E5%85%86%E7%93%A6%E9%A3%8E%E7%94%B5%E9%A1%B9%E7%9B%AE%E9%80%9A%E8%BF%87%E6%A0%B8%E5%87%86&ct=clnk)