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Goldwind USA And InterEnergy Holdings Agree On Terms For 215MW Wind Project In Penonome, Panama

Deal Represents Goldwind's Largest International Order

CHICAGO, April 24, 2014 /PRNewswire/ -- Goldwind USA, the US subsidiary of Xinjiang Goldwind Science & Technology Co., Ltd. (Shenzhen Stock Exchange: 002202, the Stock Exchange of Hong Kong Limited: 2208), announced today that it has received an order from InterEnergy Holdings to supply 86 of its 2.5MW Permanent Magnet Direct-Drive (PMDD) turbines for the 215MW Penonome wind project in the province of Cocle, Panama. The order is Goldwind's largest international sale to date.  In addition to supplying 215MW of wind turbines, Goldwind will provide a long-term maintenance program.

Goldwind's 2.5 MW PMDD turbines operating in Panama earlier this year.

"This sale is further evidence of the strength and technological advantages of Goldwind's 2.5MW platform and highlights Goldwind's established track record of developing strategic relationships with key customers and local partners in each of the markets we serve," said David Halligan, Chief Executive Officer of Goldwind USA.  "Goldwind is pleased to have completed this sale to InterEnergy Holdings and to assist in bringing clean and cost-efficient energy to Panama. A deal of this size with a well respected partner like InterEnergy, which is backed by the World Bank's International Finance Corporation, speaks volumes to the efforts of our team and to the validity of our PMDD technology."

"InterEnergy is delighted to be working with Goldwind on the Penonome project", said Rolando Gonzalez Bunster, Chairman and Chief Executive Officer of InterEnergy Holdings. "This will be InterEnergy's largest investment in a renewable energy project to date, and will most certainly be an industry reference not only in Panama but in the entire region, for its size and importance.  The partnership with Goldwind will be key to the success of this endeavor."

The global leader in the deployment of PMDD turbines, the Goldwind portfolio of 1.5 and 2.5MW permanent magnet direct-drive wind turbines are designed for high power generating efficiency, superior power quality and grid code compliance, and significantly reduced maintenance and total operating expenditures.  Unlike a gearbox-driven turbine, the permanent magnet direct-drive design reduces the number of high-speed rotational parts and avoids the sources of expensive faults that require crane mobilization.  The Goldwind PMDD turbine dramatically reduces cost wind generation over the life of a project. 

About Goldwind

Xinjiang Goldwind Science & Technology Co., Ltd. (Goldwind) is the largest manufacturer of wind turbines in China, the second largest by market share globally. With strong R&D capabilities, the company is the world's largest manufacturer of Permanent Magnet Direct-Drive (PMDD) wind turbines, representing 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).

Chicago-based Goldwind USA serves as the headquarters for operations in North America. 

Established in early 2010, Goldwind USA leverages a global network of offices and partnerships to offer a variety of wind power solutions including sales and service platforms to customers and strategic partners throughout the Americas.  

About InterEnergy

InterEnergy Holdings (InterEnergy) is a holding company that owns and operates power generation and distribution assets in Latin America and the Caribbean.  Its predecessor, Basic Energy Ltd., led by power entrepreneur Rolando Gonzalez Bunster, had near 25 years of investment and operational experience in the power sector having acquired and developed over 1,500MW in the Dominican Republic, Argentina, Panama and Jamaica.

Today, InterEnergy is one of the largest investors in the power sector of the Dominican Republic, with over 1,300MW of combined installed capacity in its portfolio.  The company is also a renewable energy pioneer in the region, establishing the first wind generation park in the Dominican Republic in 2011, a partnership between EGE Haina and CEPM, two of InterEnergy's portfolio companies, in Juancho Los Cocos.  The park, which was recently expanded, has over 86 MW of aggregate installed capacity.

In February 2013, the World Bank's International Finance Corporation acquired a minority equity interest in InterEnergy.  This investment marked the beginning of an important expansion phase for InterEnergy, with the continuous focus of bringing efficient, clean and cost-effective energy to our region.  The investment in Gas Stream of Chile, a LNG distribution business, was InterEnergy's first foray outside the Dominican Republic.  The company expects to announce additional investments and acquisitions throughout the region in the near future.

CONTACT: Colin Mahoney
Mahoney Communications Group
+1 617-970-4418
[email protected]

Photo - http://photos.prnewswire.com/prnh/20140424/78232

SOURCE Goldwind USA, Inc.

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