The company said it has already received an initial non-refundable amount of RMB20m ($3.08m).
A further payment of RMB10m ($1,5m) will be made by the customer upon a final inventory valuation being completed by the two companies which will establish any adjustments together with a staged payment and shipping plan.
China-based Hanwei is focusing its ongoing sales, engineering and manufacturing efforts on its core fiberglass reinforced plastic pipe business, and will not manufacture any new wind energy equipment.
