Goldwind to build production plant in northwest China

CHINA: Goldwind has signed an agreement with the Hami local government, northwest China's Xinjiang, to invest to construct a MW-level wind turbine production base in the region.

The new plant will be located in the Hami industrial park on a planned area of 20 hectares. It will mainly be engaged in producing 1.5MW and 2.5MW direct-drive permanent magnetic turbines.

The first stage project, with an investment of CHY200 million and a floor space of 10 hectares, will go into construction in September this year. It will be completed and go into operation in May 2011 producing 1.5MW turbines.

The second stage project will be dependent on market conditions.

Hami boasts rich wind power resources. It is one of the seven sites in the country to host the seven 10GW-level wind farms as scheduled under a national plan. The medium and long-term plan of Hami is to develop wind farms with 20GW installed capacity. This is equivalent to install 8,000 units of 2.5MW turbines.

Hami has a crucial position in northwest China, as it joins Hexi Corridor that hosts the Gansu Jiuquan wind power base and North Xinjiang area that is home to Dabancheng wind farm, both 10GW-level wind power bases under the country’s plan.

Wei Hongliang, a director of the board of Goldwind, said that the Hami Base, in line with Goldwind’s Urumchi base and Jiuquan base, will fully cover its operations in northwest China.

According to the recently released Goldwind financial report, the company had a 65.57% year-on-year growth in revenues in the first half of this year.

Goldwind said that its good performance was attributed to the fact that its direct-drive permanent magnetic technology has become well regarded by the market. Many industry insiders hold it represents the future of offshore wind power technologies.

As a result, many foreign wind turbine producers, such as GE and Siemens, have edged into the rank of producing direct-drive permanent magnetic turbines.

Goldwind officials also said that its integrated wind power solutions to customers, which comprise pre-sale site selection and wind resources measurement, mid-stage project construction and logistics service, and wind farm operation maintenance, create a new profit growth point.

The company expects to expand its profits by 40-50% over the next five years.

By the end of June 30, 2010, Goldwind had a gross order of 3790.25MW turbines. Besides, it also had an order of 1502MW turbines that were won but not yet signed agreements. The company’s total orders at hand are 5292.25MW turbines.






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