Goldwind International Holdings announced the sale of its 20-MW Musselshell Wind Projects in Montana to Potentia Renewables Inc., a Toronto-based developer, owner, and operator of renewable energy assets. Goldwind is parent company of Goldwind Americas and a wholly-owned subsidiary of Xinjiang Goldwind Science & Technology Co., Ltd.
“As part of our expansion and commercialization strategy in North America, Goldwind expanded its pipeline of projects in the U.S., and when the time was right, our plan was to divest our interests in those projects to strategic buyers,” said Saad Qais, Chief Financial Officer for Goldwind Americas. “It is because of Goldwind’s differentiation through innovation, transparency and validation of turbine performance that we were able to sell Goldwind’s stake in the Montana projects to Potentia Renewables.”
The Musselshell Wind Projects feature a combined total of 14 Goldwind 87/1.5-MW permanent-magnet, direct-drive turbines, located in Wheatland County, Montana. Under the terms of the deal with Potentia Renewables, Goldwind will continue to provide the projects with long-term maintenance services and a warranty package designed to support the project’s operations at industry-leading availability levels.
“We are very excited to add these great performing assets to our rapidly expanding North American renewable energy footprint,” said Jeff Jenner, Chief Executive Officer of Potentia Renewables Inc. “Potentia now has over 850 MW of operating, under construction and long-term contracted wind and solar assets in Canada, United States and the Caribbean.”
Marathon Capital LLC acted as Goldwind’s exclusive sell-side financial advisor providing marketing outreach, valuation, structuring, due diligence, and negotiation support throughout the highly competitive sale process.
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