(March 16, 2011)
Goldwind USA has awarded a 70 turbine tower supply contract to Broadwind Energy for its 106.5MW Shady Oaks wind project in Illinois, the state-owned Chinese company’s first major project in this country.
Financial terms were not disclosed. Plans call for the 1.5MW permanent magnet direct drive turbines to be installed during the second half of this year. The turbine generators, hubs and nacelles will apparently be made in China. Goldwind signed a recent turbine bearings supply deal with Timken in Ohio.
Goldwind in January acquired the project from Mainstream Renewable Power, the European wind developer with whom it partnered to win the Illinois Power Agency’s (IPC) competitive energy supply contract.
Mainstream will continue to play a key project role through the development and construction stages to assist Goldwind in bringing it to commercial operation. The project will be governed by a 20-year renewable energy off-take agreement from utility Commonwealth Edison through IPC’s long-term procurement plan.
The Illinois legislature created IPA in 2007 to develop electricity procurement plans for investor-owned electric utilities supplying more than 100,000 customers, to ensure “adequate, reliable, affordable, efficient, and environmentally sustainable electric service at the lowest total cost.”
Goldwind USA, whose headquarters is in Chicago, got a toe in the US market last year when it supplied three 1.5MW turbines for a project in Minnesota. To date, they are the only Chinese-made wind turbines operating in the US and contain about 63% US-made components on a cost-basis.
Goldwind USA is the American subsidiary of Xinjiang Goldwind Science and Technology Company based in Xinjiang, China.
The parent company is flush with cash having raised $877m last October in an initial public stock offering in Hong Kong. It also received a $6bn low-interest government loan last May from the China Development Bank to help underwrite the company's export drive.
Goldwind USA intends to eventually set up a turbine manufacturing plant in the US with a timeframe to do so is under study.
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