The Americas unit of Chinese wind turbine maker Xinjiang Goldwind Science & Technology (HKG:2208) said today it will acquire the 160-MW Rattlesnake wind project in Texas.
Chicago-based Goldwind Americas has signed a deal to buy the project from Renewable Energy Systems Americas Inc (RES) as part of a five-year growth strategy to capitalise on the extension of the production tax credit (PTC), it said.
The Rattlesnake scheme is the first phase of a planned 300-MW wind power complex that was developed and will be built by RES. The initial project envisages the installation of 64 of Goldwind’s 2.5-MW permanent magnet direct-drive (PMDD) wind turbines at the site in McCulloch County.
Another unit of the Chinese group, namely Goldwind Capital, has provided bridge financing of an undisclosed size to acquire
the project. It is currently negotiating a funding package that will include construction and tax equity financing and a long-term ERCOT fixed-price hedge for power production.