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China wind manufacturer plans worldwide expansion

Goldwind secures five year financing deal to “go global”

Goldwind is looking expand its global wind industry
Goldwind is looking expand its global wind industry

China’s second largest wind power manufacturer Goldwind is planning to expand its overseas presence, with a new line of credit from the Export-Import Bank of China. The government-owned company signed a strategic agreement with the bank, enabling it to “go global”, and seek partners overseas, Goldwind said.

The five year agreement grants credit loans to Goldwind for foreign projects. This includes overseas investment and contracting, export of capital goods such as complete equipment sets, and high technology products, as well as import of materials, technology and equipment. The company is also covered for underwriting, and spot and forward trading of foreign exchange.

Sun Ping, vice president of Export-Import Bank of China, said: "Export-Import 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."

The deal comes a week after Goldwind agreed a USD 5.5m financing agreement with China Development Corp to supply turbines to the domestic market. Goldwind’s overseas activities have ramped up in the last year, with a massive 109 MW wind project in Illinois set to come online in 2012, as well as a 4.5 MW project in Minnesota.