Goldwind eyes 2 wind power firms

Goldwind is eyeing an 85 percent stake in Golden Concord Wind Power and a 25 percent stake in Golden Concord Xilinhot.

These will be purchased from Golden Concord Wind Equipment Holdings. according to powertechnology.com.

In addition, Goldwind intends to acquire a 15 percent stake in Golden Concord Jiangsu from Shanghai Guoneng Investment through its wholly-owned subsidiary, Goldwind Investment Holdings.

The stake purchases will cost approximately US$29.9 million in total for Goldwind.

Upon the completion of the transactions, Goldwind will hold a 100 percent stake in both Golden Concord Jiangsu and Golden Concord Xilinhot. Goldwind expects to obtain advanced technology for the design and production of wind turbine blades and to lower its production costs.

Furthermore, Goldwind will inject US$82.4 million into a wholly-owned subsidiary, Jiangsu Goldwind Wind Equipment Manufacturing, for the research of 6MW wind turbine direct drive permanent magnets, an offshore wind turbine test site and engineering work on ocean wind power.