Who will we be dealing with once RES sells off the project?
No promises or deals with RES will matter once new owners come in.
Goldwind Americas acquires second 160MW project in deal with RES
May 25, 2017
Goldwind Americas, a wholly-owned subsidiary of Xinjiang Goldwind Science & Technology Co., Ltd., announced that it has signed an agreement with Renewable Energy Systems Americas Inc. (RES) to acquire the 160-megawatt (MW) Heart of Texas Wind Project in McCulloch County, Texas.
“The partnership with RES on the Heart of Texas wind project further demonstrates the strong accreditation of Goldwind’s industry-leading Permanent Magnet Direct Drive turbine technology in the U.S. wind market,” said Vikaas Rao-Aourpally, Vice President of Sales and Business Development for Goldwind Americas. “We are proud to again partner with RES, a leading renewable energy developer and constructor to continue to grow Goldwind’s presence in the Americas.”
The Heart of Texas Wind Project, located approximately 125 miles northwest of Austin, will utilize Goldwind GW 121/2.5MW wind turbines.
“RES is pleased to work with Goldwind again to sign the Heart of Texas sales transaction,” said Brian Evans, Chief Development Officer of RES in the Americas. “This wind project will bring economic benefits to the Lone Star State, thus helping us meet our mission of providing a low carbon future for all.”
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. In April 2017, Goldwind received tax equity financing commitments from Berkshire Hathaway Energy and Citi for the approximately $250m Rattlesnake Wind Project.