Dear Friends and Colleagues,
I’m delighted to share news with you that on April 27, 2017, Goldwind received tax equity financing commitments from MidAmerican Wind Tax Equity Holdings (a Berkshire Hathaway Energy subsidiary) and Citi for our 160-megawatt (MW) Rattlesnake Wind Project located in McCulloch County, Texas. The Goldwind Americas team originated and structured the acquisition and financing of the Rattlesnake Wind Project – the first of its kind for a Chinese wind energy technology company.
This financing serves as a critical milestone of a strategy set in 2014 to fully commercialize Goldwind’s turbine technology in the U.S. and broader international wind energy markets. The strategy included expanding Goldwind’s pipeline of projects across the Americas, differentiation through innovation, transparency and validation of turbine performance, and bankability of technology.
In a statement released today, Goldwind Chairman Mr. Wu Gang said, “We are very pleased to partner with world-class institutions Berkshire Hathaway Energy and Citi on this innovative and breakthrough deal. Their support is a testament to the performance and realibity of Goldwind’s Permanent Magnet Direct Drive (PMDD) wind turbine technology, with its industry-leading availability.”
Marshal Salant, Global Head of Alternative Energy Finance at Citi said, “Citi is proud to support this innovative project, which is being developed by Goldwind, the largest Chinese wind turbine manufacturer. The Rattlesnake Wind Project offers a great example of Citi’s commitment to supporting the global aspirations of its clients, enabling growth and economic progress through investment in sustainable energy solutions.”
The approximately $250 million Rattlesnake Wind Project, utilizing 64 Goldwind GW 109/2.5MW PMDD wind turbines, will bring significant economic benefit to the community of McCulloch County and support approximately 250 well-paying construction and service-related jobs. The Rattlesnake Wind Project is the first phase of a total planned 320MW wind project, which once operational, will be Goldwind’s largest U.S. wind project to date.
The entire Goldwind team is very proud of this achievement and looks forward to further success in the future.
Chief Executive Officer