Goldwind sells US wind farm to fund new product investment

Chinese manufacturer Goldwind this week sold its last major US wind farm. Windpower Monthly looks at the investment strategy behind the sale of its 160MW Rattlesnake project

The Rattlesnake wind farm in Texas features 64 Goldwind GW109/2500 turbines

Goldwind has sold the last of its major US wind farms as it focuses investments on new products and improving its service capabilities.

This week it completed the sale of the 160MW Rattlesnake (Goldwind) wind farm in Texas to investment firm Exus Management Partners.

The manufacturer now only owns a small Minnesotan wind farm in the US, the Uilk project.

It has owned US wind farms over the last decade, but sold its Musselhill project last year and has now divested Rattlesnake.

Goldwind has  not confirmed what these new products will be.

To date, Goldwind is the only Chinese OEM to develop wind farms in the US.

CEO of Goldwind Americas, David Sale, told Windpower Monthly that each project the manufacturer has owned “has allowed the company to further expand turbine sales and service and maintenance throughout North America and the world”.

Sale said: “Project ownership was in support of the company’s global strategy to commercialise Goldwind’s permanent-magnet direct-drive turbines in North America, particularly in the US.”

To date, Goldwind has supplied just over 350MW of operational onshore wind turbines in the US, and is due to supply a single 3MW unit in Ohio. It is also scheduled to supply a 200MW wind farm in Canada, according to Windpower Intelligence, the research and data division of Windpower Monthly. 

“At present, we are taking capital out of our mature projects in North America to invest in new products and enhanced service offerings, which will result in an increased value proposition for our customers,” Sale added. 

"The company will always have an eye on the horizon when it comes to investment and ownership of wind farms."