Goldwind Debut at Wind Power 2010

Concurrently, Goldwind officially announces the formation of Goldwind USA, its wholly owned US subsidiary based in Chicago. The US company is positioned to offer a variety of wind energy solutions including sales, service and manufacturing platforms to customers and strategic partners throughout the Americas.

"The debut at the Dallas Show as well as the opening of Goldwind USA marks a major step forward Goldwind has taken in its on-going endeavor of globalization," said Wu Gang, Chairman & CEO of Xinjiang Goldwind Science & Technology Co., Ltd. "As China’s leading wind turbine producer with strong independent research and development capabilities, Goldwind aims to build itself into a global leading wind power total-solution provider through the internationalization of capital, talent, market, technology and products."

Wu noted that Goldwind’s globalization is anything but just selling products overseas, while it seeks to build itself a brand which is not only Chinese but also of the world through localization of talent recruitment, R&D, supply chain and manufacturing. Goldwind aims for win-win cooperation with local business partners and becoming an integral part of the development of renewable energy in those countries.

In 2009, Goldwind, together with two local partners, invested to develop a wind farm in Pipestone, Minnesota and installed three 1.5 MW wind turbines there. The pilot project serves well as a demonstration of the company’s strong capability in wind farm investment, development, services as well as its reliable and highly efficient wind turbines.

China is the largest and fastest-growing wind power market in the world and in this market, Goldwind possesses one of the longest operating histories and most outstanding track records among PRC wind turbine manufacturers.

The company’s sales recorded a compound annual growth rate of over 100 per cent for nine consecutive years since 2000. By the end of 2009, Goldwind cumulatively installed over 5,500 units of wind turbines. In 2009, Goldwind was ranked the fifth largest wind turbine manufacturer globally in terms of newly installed capacity.

Goldwind possesses state-of-the-art technologies and strong R&D capabilities, and is the pioneer of permanent magnet direct-drive wind turbines development and production in China. With this cutting-edge technology, Goldwind’s products are highly competitive and reliable, with low operation and maintenance costs as well as superior grid connectivity.

The United States is not Goldwind’s first presence overseas. The company in 2008 acquired 70 per cent interest of Vensys, a German-based pioneer of direct-drive wind-turbine technology, which has many years of R&D experience and industry-leading capabilities in this field.

Goldwind has established eight production bases, including one in Germany, and has four production bases under construction. Upon completion of the production bases, the company will achieve an annual production capacity of more than 3,000 units of MW-level wind turbines.

Goldwind also set up a wholly owned subsidiary in Australia in late 2009 and has plans to set up more overseas subsidiaries in the near future.

Goldwind was listed on China’s Shenzhen Stock Exchange in 2007.

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