Taipower stated that the ownership of the wind turbines belongs to Taipower, and it is illegal for Fuwei to set up a chattel mortgage.
Fuwei and Taipower Offshore Phase II have been in constant dispute. Fuwei Energy today (7th) accused Taipower of "unilaterally taking over" the second phase of the offshore project. Taipower also emphasized again that due to Fuwei's poor management, the subcontractor Vestas lost confidence and terminated the subcontract. Taipower's so-called unilateral claim The takeover was an unfounded accusation, and Fuwei stated that it wanted Taipower to propose a plan and sent a copy of the letter to the Presidential Office. Taipower also said that Fuwei had set a wind turbine mortgage, and Taipower determined that it was in violation of the law and had formally filed a report with the Financial Supervisory Commission.
Taipower explained that Fuwei voluntarily requested Taipower to take over twice on June 3 and June 27. In order to ensure the smooth completion of the project, Taipower took over the subsequent wind turbine installation project as agreed. The handover of the wind turbine equipment was completed under the on-site witness of a notary, and the ownership already belonged to Taipower. Regarding Fuwei Company's illegal breach of contract to set up a wind turbine mortgage, Taipower reiterated that in accordance with the contract provisions and the content of the commitment letter signed by Fuwei itself, Fuwei clearly knew that the wind turbine could not be mortgaged as chattels and still violated the law and breach of contract. On September 21, Taipower sent a letter requesting Fuwei Company to cancel the mortgage registration on its own, and notified Fuwei Company of creditor's rights offset to protect Taipower's creditor's rights. On October 5, Taipower officially filed a report with the Financial Supervisory Commission.
Regarding the loans from Fuwei and its parent company Senwei, Taipower stated that so far no major information has been released by Senwei, which has disclosed any facts and reasons that can explain the occurrence of the approximately 6.1 billion yuan secured debt fund loan or other claims. Fuwei and Senwei Energy should explain in detail the reason for the occurrence of the claim, the time of occurrence, the source of funds, etc.
In addition, Fuwei Company accused Taipower of withholding 4.28 billion in retained funds. Taipower emphasized that in this case, 90% of the payment has been paid in accordance with the law and the contract, and there has never been any default. There is no such thing as withholding of retained funds. According to the contract, the retention money can only be paid after the project has been completed and accepted. This provision is also found in the engineering contract template and is not a special provision for Fuwei. The project in this case was because Fuwei Company failed to perform as per the contract and the project progress was seriously delayed. It has not yet been completed, let alone the acceptance, and naturally it has not yet met the conditions for requesting retention money. Regarding Fuwei's claim that Taipower owes money, he obviously has no legal knowledge and is also trying to confuse the public with the intention of evading his own responsibility.
Taipower once again requires Fuwei to immediately cancel the relevant wind turbine property mortgage rights and stop all actions that may hinder Taipower's use, installation and management of wind turbine equipment.
Taipower is fully advancing the progress of the second phase of the offshore project and striving to complete it by the end of the year. In the wind turbine section, after Taipower took over, one more wind turbine has been installed recently and the project will continue to be advanced. Regarding Fuwei's illegal breach of contract and other behaviors that harmed Taipower's rights and interests, Taipower has taken and will continue to take necessary legal measures to complete the installation and grid connection of wind turbines as its primary goal to safeguard major national construction and the interests of the people.
