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The one laptop per child project is a bold attempt to put a laptop into the hands of children around the world who would never otherwise have the opportunity to have access. The laptops are to run Redhat Linux. The notion is to build a strong, versatile, and really inexpensive computer that doesn't rely on the powergrid. Originally it was thought that a hand crank would do, but it was found that for children to power the batteries, the effort was too great. Squid Labs in Emerville, CA has come up with a pull string that spins a small generator. It is much more efficient allowing for generation of a larger number of watts.

Make: Magazine (one of my favourite new publications) mentions that it may be available for the public to purchase for $200.

Technology Review has more details including the specs.