Goldwind USA Acquires two 10MW US Projects from Volkswind USA
Shawmut, Montana Project Will Feature 12 of Goldwind’s Permanent Magnet Direct-Drive Turbines
January 17, 2012: Officials with Volkswind USA and Goldwind USA announced today that Chicago-based Goldwind USA has acquired two 10MW wind farms, referred to as the Musselshell Project, in Shawmut, Montana. Volkswind has obtained all of the necessary permits for construction and secured power purchase and interconnection agreements with NorthWestern Energy. The project is expected to begin construction soon with commercial operations as early as Q3 2012.
According to Jeffrey Wagner, President of Volkswind USA, Goldwind USA’s advanced permanent magnet direct drive and grid-friendly technology provide an ideal fit for the site. “Goldwind’s gearless technology is relatively unique in the US market; its megawatt size, efficiency and reliability perfectly matches the requirements of the wind farm,” said Wagner.
According to Goldwind USA’s Vice President of Sales, Matthew Olive, the deal demonstrates continued acceptance of Goldwind’s technology in the West. “This sale marks our 14th deal in the Americas since we entered the market in June of 2010,” said Olive. “Our customers continue to choose Goldwind turbines because their track record of unparalleled efficiency and reliability. We are pleased that our counterparts with Volkswind have recognized those advantages and we’re excited to work with their team and with the community in Shawmut to get this project done.”
In the United States, Goldwind turbines are in operation or due to be operational in Minnesota, Illinois, Massachusetts, New York, Rhode Island, Ohio, Iowa and now, Montana. Goldwind also recently announced 34.5MW and 15MW deals in Chile and Ecuador, respectively.
Tim Rosenzweig, CEO of Goldwind USA believes the deal further demonstrates Goldwind’s diverse financing capabilities in the US market. “This project marks Goldwind’s third acquisition in the United States accompanied by our project in Pipestone, Minnesota and our 109.5MW Shady Oaks project in Lee County, Illinois,” said Rosenzweig. “Through our affiliate, Goldwind Capital, we have worked to offer a variety of financing solutions to support our customers’ projects in the United States, including common equity, mezzanine financing and project finance.”
The Musselshell wind farm concept originated with a landowner who worked with Volkswind to advance the project. Volkswind has been building and operating wind farms in Europe since 1993. Terms of the deal were not disclosed.
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).
For more information please contact:
Colin Mahoney, Goldwind USA