Goldwind US financing milestone as Buffett and Citi back Rattlesnake

Goldwind has obtained between $130m and $140m in tax equity financing commitments from a unit of Berkshire Hathaway Energy and Citi for its 160MW Rattlesnake wind project in central Texas – easily the most financing of US origin yet secured by a Chinese turbine OEM in this market.

It also is the first time Goldwind has financed a project here entirely from western sources. The vendor views the commitments by MidAmerican Wind Tax Equity Holdings and Citi as a major step in the commercialisation of its turbines in the US.

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“Their support is a testament to the performance and reliability of Goldwind’s permanent magnet direct drive (PMDD) wind turbine technology, with its industry-leading availability,” says Goldwind chairman Wu Gang.

The first stage of Rattlesnake will use 64 GW 109/2.5MW PMDD wind turbines. A second stage will also have 160MW generation capacity.

“The Rattlesnake Wind Project offers a great example of Citi’s commitment to supporting the global aspirations of its clients, enabling growth and economic progress through investment in sustainable energy solutions,” says Marshal Salant, global head of alternative energy finance at Citi.

Berkshire Hathaway Energy is the energy arm of billionaire Warren Buffett's Berkshire Hathaway, the largest US conglomerate and fourth-largest by sales overall.