Goldwind Reaches Major U.S. Investment Milestone With Tax Equity Financing From Berkshire Hathaway Energy And Citi For 160mw Rattlesnake Project
CHICAGO, Oct. 2, 2018 /PRNewswire/ -- Goldwind Americas, a wholly-owned subsidiary of Xinjiang Goldwind Science & Technology Co., Ltd. (SZSE: 002202) (HK: 2208), today announced it has received tax equity financing from BHE Renewables (a Berkshire Hathaway Energy subsidiary) and Citi, for Goldwind's 160-megawatt (MW) Rattlesnake Wind Project located in McCulloch County, Texas.
"At Goldwind, we are steadfast in our approach to United States and broader North American wind markets. The successful tax equity financing for the Rattlesnake Wind Project by world-class institutions Berkshire Hathaway Energy and Citi, serves as a critical milestone in Goldwind's commercial strategy in North America," says David Sale, Chief Executive Officer of Goldwind Americas.
That strategy includes expanding Goldwind's pipeline of projects across the Americas, differentiation through innovation, transparency and validation of turbine performance, and bankability of Goldwind's PMDD technology.
Goldwind Capital, another U.S.-based subsidiary of Xinjiang Goldwind Science & Technology Co., Ltd., provided construction financing for the project that will sell power under a long-term fixed price energy hedge.
"The evolution of the Rattlesnake Wind Project from acquisition to commercial operations, and its financing – the first of its kind for a Chinese wind energy technology company – highlights not only the reliability and bankability of Goldwind's technology, but it also underscores our long-term commitment to the U.S. wind market," continues Saad Qais, Chief Financial Officer for Goldwind Americas.
Goldwind's wind turbines provide cleaner, cost-effective energy, while creating jobs, stimulating economic growth, and reducing impact on the environment. Utilizing 64 Goldwind GW 109/2.5MW PMDD wind turbines, the Rattlesnake Wind Project brought significant economic benefit to the community of McCulloch County, supporting approximately 250 well-paying construction and service-related jobs at the peak of construction. The project is Goldwind's largest U.S. wind project to date.
About Goldwind Americas
Goldwind Americas, headquartered in Chicago, is a wholly-owned subsidiary of Xinjiang Goldwind Science & Technology Co., Ltd (SZSE: 002202) (HK: 2208), a world leading wind turbine technology and energy solutions provider. 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. Goldwind Americas is a tradename of Goldwind USA, Inc. To learn more, visit www.goldwindamericas.com.
GOLDWIND AMERICAS MEDIA CONTACT:
Lauren La Marche
Marketing & Communications
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SOURCE Goldwind Americas
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