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.