Goldwind wins US wind power deal
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Xinjiang Goldwind Science and Technology Co announces that one of its units has won a contract to sell wind power in Illinois in the United States, and it sees this transaction as a key step to tap the global wind power market.
Under the agreement, a wind farm to be built by Xinjiang Goldwind's wholly-owned unit TianRun Shady Oaks LLC will supply 20 years of power to Commonwealth Edison Co from 2012, the Urumqi-based firm said in a filing to the Shenzhen Stock Exchange yesterday.
Construction of the 106.5-megawatt project, expected to cost US$150 million to US$200 million, will begin in 2011, the firm said.
"Winning the contract is significant step in the company's strategy to go international after being listed in Hong Kong in early October," Essence Securities wrote in a research report yesterday.
"Goldwind is expected to benefit from providing turbine and engineering services after transferring the power plant to future buyers, as this has been the usual case for its domestic operations," it said.
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