The financing facility from the Industrial and Commercial Bank of China (ICBC) will be available over the next two to three years. It encompasses a variety of loans and guarantees, trade and project financing, and export credit.
Goldwind claims the agreement “represents a major corporate milestone”. It is not yet clear how much will be used and for what purpose.
China’s second-largest turbine maker and the fourth globally, Goldwind is facing weaker sales and shrinking profits this year after a temporary halt in new wind farm connections slowed installations, just as the costs of one of its key raw materials – rare earth magnets – surged.
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