Goldwind Confirms Sell-Down Of Montana Projects To Canadian Developer Potentia Renewables

CHICAGO, May 29, 2019 /PRNewswire/ -- Goldwind International Holdings (HK) Ltd ("Goldwind"), parent company of Goldwind Americas and a wholly-owned subsidiary of Xinjiang Goldwind Science & Technology Co., Ltd. (SZSE: 002202) (HK: 2208), today announced the sale of its 20 megawatt Musselshell Wind Projects in Montana to Potentia Renewables Inc., a Toronto-based developer, owner, and operator of renewable energy assets.

"As part of our expansion and commercialization strategy in North America, Goldwind expanded its pipeline of projects in the U.S., and when the time was right, our plan was to divest our interests in those projects to strategic buyers," says Saad Qais, Chief Financial Officer for Goldwind Americas. "It is because of Goldwind's differentiation through innovation, transparency and validation of turbine performance that we were able to sell Goldwind's stake in the Montana projects to Potentia Renewables."

"We are very excited to add these great performing assets to our rapidly expanding North American renewable energy footprint," said Jeff Jenner, Chief Executive Officer of Potentia Renewables Inc. "Potentia now has over 850 MW of operating, under construction and long-term contracted wind and solar assets in Canada, United States and the Caribbean."

"With over 50 GW of installed wind power capacity worldwide and approximately 32,000+ wind turbine units running in 24 countries on six continents, Goldwind has been leading the world with customized energy solutions to meet customers' growth strategies," continues David Sale, Chief Executive Officer for Goldwind Americas. "We are proud to work with Potentia Renewables, a leading renewable energy developer, in furtherance of a shared desire for growth throughout the Americas."

Goldwind's wind turbines provide cleaner, cost-effective energy, while creating jobs, and stimulating economic growth. The Musselshell Wind Projects feature a combined total of 14 Goldwind 87/1.5MW permanent magnet direct-drive turbines and are located in Wheatland County, Montana. Marathon Capital LLC acted as Goldwind's exclusive sell-side financial advisor providing marketing outreach, valuation, structuring, due diligence, and negotiation support throughout the highly competitive sale process.

Under the terms of the deal with Potentia Renewables, Goldwind will continue to provide the projects with long-term maintenance services and a warranty package designed to support the project's operations at industry-leading availability levels.

About Goldwind International

Goldwind International, headquartered in Beijing, is the parent company of Goldwind Americas and a wholly-owned subsidiary of Xinjiang Goldwind Science & Technology Co., Ltd (SZSE: 002202) (HK: 2208), a world leading wind turbine technology and energy solutions provider. Goldwind's revolutionary Permanent Magnet Direct Drive (PMDD) technology is shaping a new standard in wind energy. Goldwind offers a full suite of innovative renewable energy solutions, including equipment sales, service, and capital. Goldwind Americas is a tradename of Goldwind USA, Inc. To learn more, visit www.goldwindamericas.com.

About Potentia Renewables Inc.

Potentia Renewables Inc. is a fully integrated developer, owner, and operator of solar and wind energy assets. It is 100% owned by Power Energy Corp., a wholly owned subsidiary of Power Corporation of Canada, traded on the TSX under the ticker POW. Potentia is the largest rooftop solar company in Canada and currently operates more than 700 installations, representing close to 200 MW. With operations in the US and assets under construction in Latin America, Potentia has recently been awarded four large contracted wind assets in Western Canada.  Potentia's construction plans for these sites represents more than 625 MW of wind power to come online over the next two years. For more information about Potentia, see www.potentiarenewables.com .

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SOURCE Goldwind

Related Links

http://www.goldwindamericas.com