Goldwind Reports Higher Net Profit for the Year 2016
BEIJING, China, March 29, 2017 -- Xinjiang Goldwind Science & Technology Co., Ltd. (the “Company”, Shenzhen stock code 002202, Hong Kong stock code 2208, “Goldwind” or the “Group”) today announced its annual results for the year ended December 31, 2016. In accordance with China GAAP, during the year ended December 31, 2016, the Group’s total revenue was RMB 26,396 million. Mainly due to innovation, related diversification strategy and optimization of management, the Company’s profitability increased significantly with its net margin increased from 9.48% to 11.38%. Net profits attributable to owners of the parent company increased by 5.39% to RMB 3,003 million. Basic earnings per share for the year 2016 increased by 3.03% year over year to RMB 1.08.
Mr. Wu Gang, Goldwind’s Chairman, said, “While strengthening our core business, Goldwind has actively expanded our related diversified businesses in 2016, which led to impressive progress in smart energy and environmental-protection business. Meanwhile, Goldwind achieved milestone steps on the path to internationalization. Looking forward, Goldwind will keep on making efforts on R&D and innovation, focusing on our customers’ demand, deeply unearthing the industrial value chain and contributing to create more economic value for shareholders through our well-proven diversified business model.”
WTG Manufacturing and Power Generation In 2016, China’s wind power industry achieved stable development, the Company continued to solidify its leading position and expand its market share with superior wind turbine products and comprehensive solutions. In 2016, Goldwind’s worldwide newly installed capacity reached 6.4GW with a significant corresponding market share of 12%, while domestic newly installation market share increased by 1.9% to 27.1% last year, making the Company the largest WTG manufacturer in China for the sixth consecutive year. During the Reporting Period, the Group’s revenue from WTG Manufacturing & Sales business segment was RMB 22,387 million. In 2016, China’s wind power industry achieved stable development, while demand for wind equipment surged in the public tender market, Goldwind won nearly 9GW of new WTG orders in China last year, representing over 30% of market share, mainly due to our strong R&D capabilities, excellent product performance and service. By the end of 2016, Goldwind had 14.2 GW of backlog on hand, representing an increase of 19.1% YoY. In 2016, Goldwind also accelerated development of wind power in China’s middle, eastern and southern regions. The company reported that its newly attributable installed generating capacity increased by 1.03GW and its newly attributable approved capacity increased by 1.46GW, while revenue generated from Wind Farm Investment and Development business was RMB 2,417 million, representing an increase of 55.5% YoY.
R&D and Innovations In 2016, Goldwind continued to upgrade its product lines through technical innovations, better to meet market demand. The Company successfully realized the application and popularization of its ValuePlus product platform, which will help improve project profitability. The Group accomplished its brand new 3.0MW(S) onshore product platform featuring large rated capacity, which is oriented for international markets and domestic medium to low wind speed regions. The Company continued R&D work for its 2.0MW and 2.5MW units, targeting fast-growing wind market segments such as ultra-low wind speed, high-altitude, high-temperature and etc. In addition, Goldwind established China's largest offshore wind power R&D center and launched its tailor-made comprehensive solution for offshore projects, laying a solid foundation for on-going development in the offshore market.
Meanwhile, Goldwind accelerated its exploration on added-value derived from mature wind power value chain opportunities. During the Reporting Period, the Company launched its comprehensive life-cycle solutions for wind projects and related innovative products, including EPC solution, self-innovated hybrid/soft wind power tower product and digital operation and maintenance solutions, which will guide the industrial development trend of digitization, AI and integration.
Emerging Business Along with the accelerated progress of Chinese power system reform and the implementation of Internet+ action plan, Goldwind actively carried out innovative explorations in various fields such as new energy, new materials, green technology and energy saving environmental protection, serving as the new driving force for the sustainable development of the Company. During the Reporting Period, there was rapid development of the Company’s water business. Goldwind innovatively uses an intelligent water management model, having developed an application to realize the organic combination of the IOT + basic applications + intelligent applications. Moreover, the Company has successfully introduced world leading 3D printing technology into the water industry and has launched an effective solution for developing water treatment projects. In 2016, Goldwind continued to lead the technical innovation of China’s smart micro-grid industry. The planned smart energy project in Anhui was awarded in the list of national demonstration projects.
Internationalization During 2016, the Company successfully acquired the Rattlesnake Wind Power Project in Texas, USA, with a planned capacity of 160 MW; it will become Goldwind’s largest wind farm in North America after completion. The construction of White Rock Wind Farm in Australia also went smoothly; Goldwind contributed in the project as the EPC contractor and WTG supplier. The Group has been practicing national strategy of “One Belt and One Road”, and made a breakthrough in Pakistan’s wind market with a series of acquired WTG orders of high-temperature wind projects in Pakistan, mainly due to the excellent performance of connected units. The Group completed installation of its first batch of soft towers in Thailand. Meanwhile, the Company has taken a further step in its development in South America by winning an order of 80MW in Chile.
About Goldwind Xinjiang Goldwind Science & Technology Co., Ltd is a world leading wind turbine technology and energy solutions provider (SZSE: 002202) (HK: 2208). With more than 38 GW of capacity worldwide, Goldwind’s revolutionary Permanent Magnet Direct Drive (PMDD) technology is shaping a new standard in wind energy. Goldwind offers its innovative comprehensive solutions for renewable energy development, including equipment manufacturing and sales, service, and investment.
3 MW platform offers customized product features for international markets
BEIJING (November 15, 2016) – Xinjiang Goldwind Science & Technology Co., Ltd, (Goldwind) (SZSE: 002202) (HK: 2208), announced today the release of its all-new 3-megawatt smart wind turbine platform, the GW3S. The GW3S turbine platform features Scalable capacity, Smart turbine controls and a Structured design. The platform design maintains Goldwind’s leading Permanent Magnet Direct Drive (PMDD) turbine technology and incorporates attributes from the GW1.5 and GW2.5 megawatt platform, including industry-leading availability and performance.
"Goldwind is dedicated to the continuous innovation of its product offerings,” states Tony Pan, CEO of Goldwind International. “The introduction of the GW3S Smart Wind Turbine will allow our customers to maximize project economics with a larger nameplate design while benefiting from the scalability and adaptability of the 3MW platform."
The GW3S, adaptable for low and ultra-low wind speeds, will range from 3.0 megawatts to 3.4 and features rotor diameters up to 140 meters.
The first deliveries for key international markets is planned for late 2017.
Xinjiang Goldwind Science & Technology Co., Ltd is a world leading wind turbine technology and energy solutions provider (SZSE: 002202) (HK: 2208). With more than 34 GW of capacity worldwide, Goldwind’s revolutionary Permanent Magnet Direct Drive (PMDD) technology is shaping a new standard in wind energy. Goldwind offers a full suite of innovative renewable energy solutions, including equipment manufacturing and sales, service, and investment. To learn more, visit www.goldwindglobal.com
Agreement will represent Goldwind’s largest U.S. turbine order to date
CHICAGO (November 2, 2016) – Goldwind Americas, a subsidiary of Xinjiang Goldwind Science & Technology Co., Ltd. (Shenzhen Stock Exchange: 002202, the Stock Exchange of Hong Kong Limited: 2208), announced today that it has entered into an exclusive agreement with Viridis Eolia, LLC, (Viridis), a Wyoming corporation, for the conditional supply of up to 1,870 megawatts of Goldwind Permanent Magnet Direct Drive (PMDD) wind turbines.
“Our partnership with Viridis is another step in our five-year strategy to capitalize on the robust growth of the U.S. wind market,” said David Halligan, Chief Executive Officer of Goldwind Americas. “This conditional supply of Goldwind PMDD turbines, with industry-leading availability, demonstrates the high performance of our machines and our commitment to expansion throughout the Americas.”
The Viridis Eolia Master Plan, a planned 1,870-megawatt multi-phase wind project located in Carbon County, Wyoming, will utilize Goldwind’s 2.5 MW and 3.0 MW PMDD wind turbines. The first standalone project of 32.5 megawatts will be developed by Little Medicine Bow Wind S, LLC, and is expected to be commercially operational in 2017. The Viridis Eolia Master Plan’s subsequent phased projects will be commencing operations in years 2018 through 2022.
“Viridis has selected Goldwind as exclusive supplier of its PMDD wind turbines and provider of long-term operations and maintenance services to our wind projects in Wyoming,” stated Juan Carlos Carpio Delfino, Chief Executive Officer of Viridis. “These projects will be one of the most important wind energy developments in North America, serving the Western U.S. energy markets, and will bring substantial economic support to the state of Wyoming for years to come.”
“We are extremely excited to partner with Viridis on this great opportunity to deliver wind energy to the Western U.S. and bring significant economic activity to Wyoming,” said Mr. Halligan.
About Goldwind Americas
Goldwind Americas, headquartered in Chicago, is a world leading wind turbine technology and energy solutions provider. A wholly-owned subsidiary of Xinjiang Goldwind Science & Technology Co., Ltd (SZSE: 002202) (HK: 2208), Goldwind’s revolutionary Permanent Magnet Direct Drive (PMDD) technology is shaping a new standard in wind energy. Goldwind Americas offers a full suite of innovative renewable energy solutions, including equipment sales, service, and capital.
About Viridis Eolia
Viridis Eolia LLC, a Wyoming corporation headquartered in Medicine Bow, Wyoming, is a renewable energy developer for owning and operating renewable energy facilities in North, Central and South America and the Caribbean. Since 2010 Viridis has been advancing an 1,870 MW facility called the Virids Eolia Master Plan, a phased wind energy development located in Shirley Basin, WY, which will deliver competitive wind energy to the Western Renewable Portfolio Standard (RPS) markets, including California. To learn more, visit www.viridiseolia.com.
World’s Number One Turbine Supplier Moves to Chicago’s Civic Opera Building
CHICAGO (August 29, 2016) - Goldwind Americas, a subsidiary of Xinjiang Goldwind Science & Technology Co., Ltd. (Shenzhen Stock Exchange: 002202, the Stock Exchange of Hong Kong Limited: 2208), announced today that it has relocated its headquarters to the historic Civic Opera Building at 20 North Wacker Drive in Chicago, Illinois.
According to David Halligan, Chief Executive Officer of Goldwind Americas, the move is part of Goldwind’s planned growth in the Americas’ energy markets. "We have set a growth strategy for the Americas and the investment we’ve made in expanding our office in Chicago underscores our strategic focus. Our new, larger work space reflects our continuing commitment to the U.S. wind market and to fostering new energy innovations and solutions.”
Goldwind, the world’s largest wind turbine supplier based on 2015 installed capacity, has called Chicago home since it established its North and Latin American operations in 2010.
“Goldwind is a proud member of the Chicago business community and its robust renewable energy sector,” continues Mr. Halligan.
Goldwind Americas, headquartered in Chicago, is the world’s leading wind turbine technology and energy solutions provider. A wholly-owned subsidiary of Xinjiang Goldwind Science & Technology Co., Ltd (SZSE: 002202) (HK: 2208), Goldwind’s revolutionary Permanent Magnet Direct Drive (PMDD) technology is shaping a new standard in wind energy. Goldwind Americas offers a full suite of innovative renewable energy solutions, including equipment sales, operations and maintenance, and capital.
Deal Represents Goldwind’s Largest U.S. Project
CHICAGO (May 17, 2016) – Goldwind Americas, a subsidiary of Xinjiang Goldwind Science & Technology Co., Ltd. (Shenzhen Stock Exchange: 002202, the Stock Exchange of Hong Kong Limited: 2208), announced today that it has signed an agreement with Renewable Energy Systems Americas Inc. (RES(link is external)) to acquire the 160 MW Rattlesnake Wind Project located in McCulloch County, Texas. Once operational, the project will become Goldwind’s largest U.S. wind project to date.
“This investment in the Rattlesnake Wind Project highlights our long-term commitment to the U.S. wind market and represents our first step of a five-year growth strategy to capitalize on the extension of the production tax credit,” said David Halligan, Chief Executive Officer of Goldwind Americas.
The Rattlesnake Wind Project, located approximately 125 miles northwest of Austin, will utilize 64 Goldwind 2.5 MW Permanent Magnet Direct-Drive (PMDD) wind turbines. The 160 MW Rattlesnake Wind Project represents the first phase of an expected 300 MW wind project, which was developed and will be constructed under a Balance of Plant agreement by RES.
“We are proud to partner with RES, a leading renewable energy developer and constructor, on our first project together,” said Mr. Halligan.
“The Rattlesnake Wind Project will be a valuable asset benefitting Texas’ electricity consumers, further evidence that the state’s encouragement of diverse generation resources is succeeding,” stated Glen Davis, RES’ President and CEO, Americas. “RES looks forward to working alongside Goldwind Americas and contributing additional renewable electricity to the ERCOT grid.”
Goldwind Capital, a subsidiary of Xinjiang Goldwind Science & Technology Co., Ltd., provided bridge financing to acquire the project and is in the process of arranging a financing package in partnership with top-tier financial institutions that will include construction and tax equity financing and a long-term ERCOT fixed price hedge for power production.
Goldwind Americas, headquartered in Chicago, is a world leading wind turbine technology and energy solutions provider. A wholly-owned subsidiary of Xinjiang Goldwind Science & Technology Co., Ltd (SZSE: 002202) (HK: 2208), Goldwind’s revolutionary Permanent Magnet Direct-Drive (PMDD) technology is shaping a new standard in wind energy. Goldwind Americas offers a full suite of innovative renewable energy solutions, including equipment sales, service, and capital. To learn more, visit www.goldwindamericas.com.
Chicago, IL (February 24, 2015) – Goldwind Americas, a subsidiary of Xinjiang Goldwind Science & Technology Co., Ltd. (Shenzhen Stock Exchange: 002202, the Stock Exchange of Hong Kong Limited: 2208), announced today the launch of the GW121, the company’s latest turbine on the 2.5 MW Permanent Magnet Direct Drive (PMDD) product platform.
The GW121 is equipped with a 121-meter rotor that is designed to maximize annual energy production at low wind sites while maintaining Goldwind’s exceptional reliability and world-class availability standards. The GW121’s high load tolerance capabilities, as well as full power conversion, allows for optimized site suitability and efficient grid interconnection.
“Class III wind sites represent a dominant and continuously growing market segment,” said Vikaas Rao-Aourpally, Director of Sales for Goldwind Americas. “The introduction of the GW121 will allow our customers to maximize project economics in low wind conditions while benefiting from the reliability of the 2.5 MW PMDD platform that has over 1,000 MW in operation.”
“Goldwind is dedicated to the continuous innovation of its product offerings,” said Thomas Nemila, who heads the technical and solutions development team for Goldwind Americas. “Our team in the Americas analyzes the needs of our customers and helps develop efficient energy solutions to meet those needs.”
With nearly 25,000 MW installed or contracted, Goldwind is the global leader in the deployment of PMDD wind turbines. The Goldwind portfolio of PMDD wind turbines are designed to achieve high power generating efficiency, superior power quality and grid code compliance, and significantly reduced maintenance and total operating expenditures. Unlike a gearbox-driven wind turbine, the PMDD wind turbine combined with the patented belt-drive pitch system reduces the total number of rotating parts and avoids the sources of expensive failures that require crane mobilization to correct. Overall, the Goldwind design dramatically improves the cost of energy over the life of a project.
Xinjiang Goldwind Science & Technology Co., Ltd. (Goldwind) is among the world’s largest energy technology companies. With strong R&D capabilities, the company is the world’s largest supplier of Permanent Magnet Direct-Drive (PMDD) wind turbines, representing the industry’s next generation technology. Goldwind is listed on both the Shenzhen Stock Exchange (Stock Code: 002202) and the Hong Kong Stock Exchange (Stock Code: 2208).
Chicago-based Goldwind Americas serves as Goldwind’s center for sales, service, capital, and innovation for North and South America. Established in 2010, Goldwind Americas leverages a global network of offices and partnerships to offer a variety of energy solutions to customers and strategic partners across the Americas. www.goldwindamerica.com
By Alexandre Spatuzza in Sao Paulo
Australian power company Pacific Hydro started the construction of the 82MW Punta Sierra wind farm – its first in Chile – targeting the start of commercial operations in 2018.
The company, which is controlled by China’s State Power Investment Corporation (SPIC), announced the start of construction works in the presence of energy minister Andrés Rebolledo.
Total investment in the project is estimated at $150m and it will be built with 32, 2.5MW Goldwind machines at hub heights of 150 metres.
Pacific Hydro has been developing Punta Sierra, located in the country’s northern Coquimbo province, since 2008 when the first wind measurements were carried out.
Pacific Hydro has approximately 500MW of operational hydroelectric power plants in Chile and operates 58MW of wind capacity in Brazil.
Goldwind is also growing its presence in the region, with more than 100MW of turbines spinning in Chile, Ecuador, Panama, Bolivia and Cuba.
Since being taken over by SPIC, Pacific Hydro’s Chile manager José Valés has told local press the company wants speed up energy projects in Chile, focusing on wind, hydro and PV.
Chile currently has about 1GW of wind installed and a target to reach a 70% renewable power supply by 2050.
GOLDWIND SCIENCE & TECHNOLOGY CO.
Milestones: The Chinese turbine manufacturer has grown its international footprint after purchasing a wind farm in Texas, its largest in the U.S. Goldwind, which last year surpassed GE as the biggest producer of turbines, plans to double the number of machines on the Texas site.
Goldwind Science & Technology Co, Ltd. was previously ranked 3rd on Fast Company’s Top 10 Most Innovative Companies.
By Jessica Shankleman
- Chinese manufacturer ranked top for first time, says BNEF
- GE fell into third, Vestas retained second place, study shows
Xinjiang Goldwind Science & Technology Co. installed the most wind power last year, becoming the first Chinese company take the top spot in Bloomberg New Energy Finance’s global rankings.
Goldwind installed 7.8 gigawatts last year compared with 4.5 gigawatts in 2014 when it was in fourth place, BNEF’s 2015 Global Wind Turbine Market Shares report showed Monday. Last year’s top producer, General Electric Co., fell to third place with 5.9 gigawatts of installed wind power.
China installed a record 29 gigawatts of new wind power capacity last year, as developers rushed to complete projects before the government cut the tariff rate at the end of the year. This year, five Chinese companies made BNEF’s top 10.
“It’s hardly surprising that five Chinese manufacturers made the top ten ranking in a year where China contributed roughly half of the global capacity,” said Amy Grace, head of wind research for BNEF, in a statement.
All but 1 gigawatt of Goldwind’s turbines were installed in China and the company took nearly 27 percent of China’s market share, according to the figures.
“It is more surprising how dominant Goldwind was in its domestic market,” Grace said. “The company commissioned more than two-and-a-half times the amount of capacity as the next largest Chinese manufacturer, Guodian.”
Goldwind beat Europe’s biggest installer, Vestas Wind Systems A/S, by 500 megawatts to take the top spot. Siemens AG and Gamesa Corp tied for fourth place, both installing 3.1 gigawatts of onshore wind last year. Siemens was the world’s top offshore wind maker last year, installing 2.6 gigawatts.
A potential merger of Gamesa and Siemens that is reported to be imminent by local press, would have placed the two companies into third place, said Grace.
Germany’s Enercon GmbH fell to sixth place from fifth last year, and was followed by four Chinese companies, Guodian Technology & Environment Group Corp, China Ming Yang Wind Power Group and China Shipbuilding Industry Company Ltd, said BNEF.
NAW Staff, Wednesday 17 June 2015 – 11:41:30
Construction on Whirlpool Corp.’s planned five-turbine wind farm is under way near Findlay, Ohio.
According to Whirlpool, the wind farm will have five wind turbines with Whirlpool utilizing two and nearby Ball Co. using three. The wind turbines, supplied by Goldwind USA, are expected to offset an estimated 22% of the company’s electric consumption.
The $18 million Findlay Wind Farm, powered by five Goldwind GW 87/1500 wind turbines, is expected to begin operating by the end of the year. One Energy provided financing for the project.
“We’re making positive progress on improving our operations’ footprint, while manufacturing energy-efficient products,” explains Ron Voglewede, global sustainability director for Whirlpool Corp. “The dishwashers we make in Findlay are designed to lower energy and water consumption for our consumers while improving performance – the same as the Findlay Wind Farm will do for our plant.”
By Andrew Lee in London
Thursday, February 26 2015
Goldwind saw its profits soar more than 300% last year as it kept up the growth momentum that has made it China’s biggest wind turbine OEM.
The company delivered a net profit of 1.83bn yuan ($292m) in 2014, a 328% uplift on the previous year, according to preliminary results.
Goldwind said the big profits boost came was thanks to increased sales – 44% to 17.7bn yuan – plus better cost control and the disposal of a subsidiary.
Goldwind was the world’s number-three wind turbine OEM in 2014, according to preliminary figures from FTI Consulting.
Goldwind has reaped the benefits of China’s massive wind expansion, as well as winning business in key overseas markets.
The Chinese group in 2014 wrapped up deals in markets including Romania and Panama, forged a joint venture in Korea and installed a test version of 6MW offshore wind turbine in China.
This week the company’s Goldwind USA unit launched a new 2.5MW turbine aimed at low-wind sites in the Americas
NAW Staff, Tuesday 24 February 2015
Goldwind Americas, a subsidiary of China-based Goldwind, has introduced a 2.5 MW permanent-magnet direct-drive (PMDD) turbine designed for low-wind sites.
The company says the new GW121 turbine is equipped with a 121-meter rotor, and its high load tolerance capabilities, as well as full power conversion, allows for optimized site suitability and efficient grid interconnection.
“Class III wind sites represent a dominant and continuously growing market segment,” says Vikaas Rao-Aourpally, director of sales for Goldwind Americas. “The introduction of the GW121 will allow our customers to maximize project economics in low wind conditions while benefiting from the reliability of the 2.5 MW PMDD platform that has over 1,000 MW in operation.”