Goldwind signs loan deal for foreign expansion

CHINA: Goldwind has secured a credit agreement with Xinjiang Uygur branch of the Export-Import Bank of China to finance the manufacturer's expansion overseas.

by James Quilter 10 February 2012

Goldwind 1.5MW direct drive turbine is a key part of its product offering

The five-year deal consist of credit loans and guarantees to Goldwind for the development of projects in overseas markets and the export of equipment.

This is the second finance deal Goldwind has signed this month. On 1 February Goldwind signed an agreement with China Development Bank (CDB) for $5.6 billion.

Goldwind has been busy on the international market over the last year. The manufacturer's US foothold includes the 4.5MW pilot Uilk project in Minnesota and 109.5MW Shady Oaks in Illinois, to be completed this quarter.

The CDB finance is to help construct projects in Goldwind's domestic market. Under the agreement, Beijing Tianrun New Energy Co. Ltd., a Goldwind subsidiary, will receive the loans from CDB up to 2013 to develop, construct and operate wind farms in China. It will also and launch and acquire companies.

In May 2010, Goldwind signed a strategic agreement with CDB for $6 billion intentional loans to explore the international market.