Chicago-based Goldwind Americas, a wholly owned subsidiary of Xinjiang Goldwind Science & Technology Co. Ltd., (Goldwind), has signed an agreement with Renewable Energy Systems Americas Inc. (RES) to acquire the 160 MW Heart of Texas Wind Project, located in McCulloch County, Texas.
The wind farm, situated approximately 125 miles northwest of Austin, will deploy Goldwind GW 121/2.5MW wind turbines.
Goldwind Capital provided bridge financing to acquire the project. In partnership with financial institutions, the company is now in the process of arranging a financing package that will include construction and tax equity financing and a long-term Electric Reliability Council of Texas fixed-price hedge for power production.
“RES is pleased to work with Goldwind again to sign the Heart of Texas sales transaction,” says Brian Evans, chief development officer of RES in the Americas. “This wind project will bring economic benefits to the Lone Star State, thus helping us meet our mission of providing a low-carbon future for all.”
In April, Goldwind received tax equity financing commitments from Berkshire Hathaway Energy and Citi for the approximately $250 million, 160 MW Rattlesnake Wind Project, also located in McCulloch County. Goldwind acquired the project from RES last year.