Chicago-based Goldwind Americas has closed on tax equity financing for its 160-megawatt Rattlesnake Wind Project located in McCulloch County, Texas. This company is a wholly owned subsidiary of Shenzhen Stock Exchange listed Xinjiang Goldwind Science & Technology Co.

The tax equity is being provided by BHE Renewables (a Berkshire Hathaway Energy subsidiary) and Citi. The two investors had initially committed to supply tax equity financing, contingent on several conditions, including the project's successful completion, in May 2017.

"The evolution of the Rattlesnake Wind Project from acquisition to commercial operations, and its financing – the first of its kind for a Chinese wind energy technology company – highlights not only the reliability and bankability of Goldwind's technology, but it also underscores our long-term commitment to the US wind market," comments Saad Qais, chief financial officer for Goldwind Americas.

Goldwind Capital, another US based subsidiary of Xinjiang Goldwind, provided the construction financing for the project, which will sell power under a long-term fixed price energy contract.

Many US projects use tax equity, where a developer and tax investor from a holding company that owns the project's assets, and the financial institution receives the tax benefits (production tax credits and depreciation) and cash distributions during the project's early years. When the tax equity partner has recovered its investment and captured the tax credits, the ownership structure flips.

Utilizing sixty-four Goldwind GW 109/2.5MW PMDD wind turbines, Rattlesnake is Goldwind's largest US wind project to date.

In May, Goldwind Americas announced that it has completed the installation of its GW 3MW(S) Smart Wind Turbine test unit at the UL Advanced Wind Turbine Test Facility located at West Texas A&M University in Canyon, Texas. The test turbine developed by Goldwind has an assembled hub height of 130 meters and a blade tip height of 199.2 meters, making it the tallest wind turbine in the US.