China

China

Goldwind revenue up 12%

CHINA: Turbine manufacturer Goldwind saw its revenues increase 12% year-on-year in the first half of 2018, totalling CNY 10.96 billion ($1.6 billion).

The Punta Sierra project in Chile comprises 32 2.5MW Goldwind turbines
The Punta Sierra project in Chile comprises 32 2.5MW Goldwind turbines

Overall, the firm saw a pre-tax profit of CNY 1.79 billion ($262.5 million) up from CNY 1.34 billion ($196.5 billion) in the January-June period of 2017.

The company’s net margin grew significantly from 2.4% to 13.9%.

"China’s wind power industry continued to develop stably in the first half of 2018," Goldwind chairman Wu Gang said.

"Goldwind has maximised competitive advantages in the industrial chain, performed well in product sales and digital solutions, and actively expanded both domestic and overseas market, which led to continuous progress in our comprehensive capabilities," Wu added.

Turbine sales grew 11.7% in the period to 2.01GW. Revenues for turbines and components also grew by 9.8% to CNY 8 billion.

The company said its total external backlog grew to 17.5GW, its highest ever total. Of this, the firm had an overseas backlog of 742.7MW.

Chile

As well as its first half results, Goldwind also announced the start of commercial operations at the 82MW Punta Sierra project in Chile.

Australian firm PacificHydro developed the site in central Chile. It comprises 32 2.5MW Goldwind turbines and is the Chinese manufacturer’s second project in the country following the 33MW Cuel site.

"Chile is one of our most important wind markets in South America. These two wind farms have helped Goldwind to set up a solid footprint in the region," said Goldwind South America general manager Liang Xuan.

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