Wind energy – Goldwind Signs Strategic Agreement with Export-Import Bank of China

Xinjiang Goldwind Science & Technology Co., Ltd. (‘Goldwind’, SZ Stock Code: 002202, HK Stock Code: 2208), announced that it signed a strategic agreement with the Xinjiang Uygur autonomous region branch of the Export-Import Bank of China (‘Xinjiang branch of Ex-Im Bank of China’) to further strengthen its capability to go global and seek worldwide wind power partnerships. The agreement reflects the solid reputation Goldwind has established over the past 15 years.

The five-year agreement covers credit loans, guarantees, advisory and other business related areas. Credit loans will be granted to Goldwind and its subsidiaries for their foreign wind farm projects including overseas investment and contracting, export of capital goods (such as complete equipment sets) and related services as well as high technology products, and import of materials, key technologies and equipment. Non-financing businesses include external guarantees, underwriting, spot and forward trading of foreign exchange and other derivatives.

During the signing ceremony, Mr. Sun Ping, Vice President of Export-Import Bank of China, said ‘Goldwind is a leading enterprise in China’s wind power industry, and has developed into a forerunner in the international market. We greatly value our strategic collaboration with Goldwind. Ex-Im Bank of China’s main goal is to promote expansion and international trade cooperation between Chinese companies and their offshore development, helping them to ‘Go Global’ through our financial services.’

Wu Gang, Chairman and Chief Executive Officer of Goldwind, said, ‘Goldwind’s established reputation has laid a solid foundation for its relationships with financial institutions at home and overseas. Our agreement with the Ex-Im Bank of China takes the collaboration between the two parties to a higher level. We will continue to expand our global strategy.’

Goldwind has reached cooperation agreements with a number of domestic and international financial institutions, such as China Development Bank, Industrial and Commercial Bank of China, China CITIC Bank, Deutsche Bank and Citibank. These agreements support Goldwind’s diversified businesses at home and overseas.

Goldwind is the world’s largest Permanent Magnet Direct Drive (PMDD) wind turbine manufacturer and a leading wind power total solutions provider. It is engaged in wind turbine R&D, manufacturing and sales, comprehensive wind power services and wind farm investment.

Founded in 1994, the Export-Import Bank of China is a state bank solely owned by the Chinese government. Its international credit ratings are compatible to the national sovereign ratings. The Bank is headquartered in Beijing. By the end of 2010, the Bank had eighteen domestic business branches, and three overseas representative offices, namely the Representative Office for Southern & Eastern Africa, Paris Representative Office and St. Petersburg Representative Office. At present, it has established correspondent relationship with more than 500 banks.

Xinjiang Goldwind Science & Technology Co., Ltd. (Goldwind) is the second largest manufacturer of wind turbines in China, and the fourth largest globally. With strong R&D capabilities, the company is the world’s largest manufacturer of Permanent Magnet Direct Drive (PMDD) wind turbines, the industry’s next generation technology. Goldwind is listed on both the Shenzhen Stock Exchange (stock code: 002202) and the Hong Kong Stock Exchange (stock code: 2208).

As of September 30, 2011, Goldwind’s accumulated sales capacity of wind power reached over 10 GW, equivalent to 8 million tons of coal saved per year, 19.95 million tons of carbon emissions reduced per year, or 10.93 million cubic meters of newly planted forest.