Goldwind Achieves ‘Commercially Proven Status’ in North American Market
Achievement as prescribed by GL Garrad Hassan widely regarded as the final threshold to be considered “financeable” in North America
Chicago, IL, September 9, 2013:
Officials with Goldwind have announced that the company has achieved the fourth and final milestone of GL Garrad Hassan’s criteria for “Commercially Proven Status” in North America: 100 equivalent wind turbine years of operation above 95% availability in the market. In fact, the 1.5MW permanent magnet direct-drive platform operating in North America has been independently validated by a leading European independent engineer at above 98% average availability – well above that which is required to satisfy the standard. This milestone is widely regarded among western industry participants and financiers as the final threshold to be considered “financeable”.
Though banks and developers may not explicitly rely on the GL Garrad Hassan qualification of ”Commercially Proven” (found within their Technical Memo on Turbine Reliability Risk Assessment) to determine commercial viability, this milestone is widely regarded among western industry participants and financiers as the final threshold to be considered “financeable”.
“I am proud of the team we’ve assembled at Goldwind USA. Over the past three years each member has had to execute on our market entry strategy to achieve this milestone. Having recently sold our 109.5MW Illinois wind farm to a western buyer and having closed a $71 million project financing with western lenders in Panama, we are excited that this performance milestone further advances our calculated and measured market entry plan and unlocks vast new pools of capital for our customers,” noted CEO of Goldwind in the Americas, Tim Rosenzweig.
According to Nancy Cook, Director of Marketing & Strategy for the Americas, “Goldwind has enjoyed exceptional performance across a number of continents and we are pleased to report the same for products here in North America despite a highly dispersed fleet of varied wind farm sizes and locations. This milestone is simply another box to check and Goldwind plans to continue engaging leading independent engineers as part of our commitment to quality and performance.”
Xinjiang Goldwind Science & Technology Co., Ltd. (Goldwind) is the largest manufacturer of wind turbines in China, and among largest globally. With strong R&D capabilities, the company is the world’s largest manufacturer 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 USA serves as the headquarters for operations in North and South America. Established in early 2010, Goldwind USA leverages a global network of offices and partnerships to offer a variety of wind power solutions including sales and service platforms to customers and strategic partners throughout the Americas.
For more information please contact:
Colin Mahoney, Goldwind USA