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Goldwind Americas to acquire 160MW Rattlesnake wind project in Texas

CTBR Staff Writer Published 18 May 2016

Goldwind Americas, a subsidiary of Xinjiang Goldwind Science & Technology, has entered into an agreement with Renewable Energy Systems Americas (RES) to acquire the 160MW Rattlesnake Wind Project located in McCulloch County, Texas.

Once operational, the project will become Goldwind's largest U.S. wind project to date.

Goldwind Americas CEO David Halligan said: "This investment in the Rattlesnake Wind Project highlights our long-term commitment to the U.S. wind market and represents our first step of a five-year growth strategy to capitalize on the extension of the production tax credit."

The Rattlesnake Wind Project, located approximately 125 miles northwest of Austin, will utilize 64 Goldwind 2.5 MW Permanent Magnet Direct-Drive (PMDD) wind turbines.

The 160 MW Rattlesnake Wind Project represents the first phase of an expected 300 MW wind project, which was developed and will be constructed under a Balance of Plant agreement by RES.

Halligan said: "We are proud to partner with RES, a leading renewable energy developer and constructor, on our first project together," .

RES Americas President and CEO Glen Davis said: "The Rattlesnake Wind Project will be a valuable asset benefitting Texas' electricity consumers, further evidence that the state's encouragement of diverse generation resources is succeeding.

"RES looks forward to working alongside Goldwind Americas and contributing additional renewable electricity to the ERCOT grid."

Goldwind Capital, a subsidiary of Xinjiang Goldwind Science & Technology Co., Ltd., provided bridge financing to acquire the project and is in the process of arranging a financing package in partnership with top-tier financial institutions that will include construction and tax equity financing and a long-term ERCOT fixed price hedge for power production.



Source: Company Press Release