Goldwind Americas said May 17 that it has signed an agreement with Renewable Energy Systems Americas Inc. (RES) to acquire the 160-MW Rattlesnake Wind Project in McCulloch County, Texas.
Once operational, the project will become Goldwind’s largest U.S. wind project to date.
“This investment in the Rattlesnake Wind Project highlights our long-term commitment to the U.S. wind market and represents our first step of a five-year growth strategy to capitalize on the extension of the production tax credit,” said David Halligan, Chief Executive Officer of Goldwind Americas.
The Rattlesnake project, located approximately 125 miles northwest of Austin, will utilize 64 Goldwind 2.5-MW Permanent Magnet Direct-Drive (PMDD) wind turbines. The 160-MW project size represents the first phase of an expected 300-MW wind project, which was developed and will be constructed under a Balance of Plant agreement by RES.
“The Rattlesnake Wind Project will be a valuable asset benefitting Texas’ electricity consumers, further evidence that the state’s encouragement of diverse generation resources is succeeding,” stated Glen Davis, RES’ President and CEO, Americas. “RES looks forward to working alongside Goldwind Americas and contributing additional renewable electricity to the ERCOT grid.”
Goldwind Capital, a subsidiary of Xinjiang Goldwind Science & Technology Co. Ltd., provided bridge financing to acquire the project and is in the process of arranging a financing package in partnership with financial institutions that will include construction and tax equity financing and a long-term ERCOT fixed price hedge for power production.
Goldwind Americas, headquartered in Chicago, is a wholly-owned subsidiary of Xinjiang Goldwind Science & Technology Co. Ltd.