IRELAND AND CHINA PARTNER ON WIND FOR CHILE

Mainstream links with Goldwind for Chilean project
Ros Davidson, 20 February 2012 (Windpower Monthly)

"Ireland-based developer Mainstream Renewable Power has inked a new 50/50 joint venture with China’s Xinjiang Goldwind Science & Technology of Beijing for a wind project in Chile.

"Goldwind’s US subsidiary is supplying 47 of its 1.5MW direct-drive permanent-magnet turbines for the first phase of Mainstream’s Ckani project in Antofagasta, northern Chile. Construction is expected to start this year…The Mainstream/Goldwind deal will use non-recourse financing from the China Development Bank (CDB)…"

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"Previously, Mainstream bought 23 of Goldwind’s 1.5MW turbines for the 34.5MW Negrete Cuel project, also in Chile…Negrete Cuel was the first Western-owned wind venture to use CDB non-recourse financing.

"Goldwind’s 106.5MW Shady Oaks project, to be completed this quarter in the USA, was bought from Mainstream…A publicly traded firm, Goldwind has a $6 billion credit line from the CDB and $5.5 billion in internal financing from Beijing Tianrun New Energy Investment, a unit of the CDB."