Goldwind

{{short description|Chinese state-owned wind turbine manufacturer}}

{{Infobox company

| name = Goldwind Science & Technology Co., Ltd.

| logo = Goldwind Updated Logo.png

| logo_caption = Logo as of 2024

| traded_as = {{hkex|2208}}
{{szse|002202}}

| foundation = {{start date and age|1998}}{{Cite web|url=https://asia.nikkei.com/Spotlight/Environment/Global-expansion-of-China-s-Goldwind-set-aloft-by-low-cost-turbines|title=Global expansion of China's Goldwind set aloft by low-cost turbines|website=Nikkei Asia}}

| founder = Wu Gang

| key_people = Wu Gang (Chairman)

| products = Wind turbines

| revenue = {{Unbulleted list|HK$30.6 B (2016)| HK$37.06 B (2015)| HK$22.27 B (2014)}}

| num_employees = 10,781 (2023)

| location_country = Beijing, China

| homepage = {{URL|https://www.goldwind.com/en/}}

}}

Goldwind Science & Technology Co., Ltd., commonly known as Goldwind, is a Chinese multinational wind turbine manufacturer headquartered in Beijing, China.{{Cite web|url=https://asian-power.com/environment/more-news/goldwind-mines-south-america|title=Goldwind mines South America|website=Asian Power|date=22 February 2012 }}{{Cite news|url=https://www.telegraph.co.uk/business/2020/06/20/huawei-green-energy-chinas-goldwind-taking-turbine-world/|title=The Huawei of green energy: How China's Goldwind is taking over the turbine world|first=Ed|last=Clowes|newspaper=The Telegraph |date=20 June 2020|location=London}} Goldwind was a state-owned enterprise before 2007, with largest shareholders including Hexie Health Insurance, China Three Gorges Renewables Group, and the National Social Security Fund, state-controlled corporations holding almost 40% shares. Its founder, Wu Gang, is a Communist Party member and had a seat in the 12th National People's Congress.

In 2016, it was ranked third for onshore and also third for offshore turbine manufacturing by Bloomberg New Energy Finance.{{Cite news|url=https://about.bnef.com/blog/vestas-reclaims-top-spot-annual-ranking-wind-turbine-makers/|title=BNEF 2016 wind turbine manufacturers ranking|date=22 February 2017|work=Bloomberg New Energy Finance|access-date=15 June 2017}}

History

Xinjiang Wind Energy, the predecessor of Goldwind, was founded by using a $3.2 million grant, given by the Danish government, which they used to build China's first wind farm at Dabancheng.{{Cite web|url=https://www.chinabusinessreview.com/the-greening-of-asia-the-business-case-for-solving-asias-environmental-emergency/|title=The Greening of Asia: The Business Case for Solving Asia's Environmental Emergency|date=9 April 2015}} Dabancheng wind farm, opened in 1989, consisted of the thirteen small, 150 kilowatts, wind turbines made by Danish turbine maker, Bonus Energy.

Goldwind was founded by Wu Gang as part of China government's 863 Program and was funded by the state. The funding helped Goldwind open its first assembly plant in Urumqi and sign technology transfer agreement with a German turbine manufacturer Vensys.

In 2008, Goldwind purchased its permanent magnet direct-drive (PMDD) technology from Vensys.{{Cite web|url=https://w3.windfair.net/wind-energy/news/4285-china-xinjiang-goldwind-to-acquire-70-of-german-wind-turbine-maker|title=China – Xinjiang Goldwind to acquire 70% of German wind-turbine maker|website=Windfair|date=2 February 2008}} Goldwind had 1,500 employees in 2009.

File:Goldwind Logo.svg

In 2010, Goldwind acquired a $6bn low-interest loan from the government-owned China Development Bank as part of its expansion plan.

In 2015, Goldwind became the largest turbine manufacturer in the world{{cite web|url=http://www.windpowermonthly.com/article/1388609/goldwind-took-126-last-year-fti |title=Goldwind took 12.6% last year – FTI|publisher=Windpower Monthly |date=3 March 2016 |access-date=25 April 2016}} but in 2019 Vestas overtook them.

=Current status=

For 14 years up to 2024 it has been the first Chinese wind turbine manufacturer with a market share in China between 20-25% each year.

In 2022, Goldwind passed Vestas again and as of 2024 it was the first manufacturer globally. In 2024, 18,7 GW were installed by Goldwind (2,5 GW out of China). Its global market share is around 15% with activity in 38 countries. Total installations are around 140 GW, including 10GW out of China. Installations out of China are mostly in Australia (near 2 GW), Brazil (>1 GW), Chile, US, Pakistan, Egypt, Uzbekistan, Vietnam, South Africa, Thailand.

Goldwind has expanded its activity with the aim or becoming a global player in any kind of energy system including the integration of solar energy + wind + BESS. Goldwind BESS manufactures batery storage systems, the company is able to integrate different energy systemas and has a Green Chemical division that carry out the production of green H2 and green methanol.

Operations

With offices and facilities throughout Asia, Europe and the Americas, Goldwind employs over 10,000 staff and, combined, has an installed capacity base reaching almost 140 gigawatts (GW) across six continents. Goldwind is principally engaged in research, development, manufacturing and marketing of large-sized wind turbine generator sets.

The company's major products include:

Permanent Magnet Direct-Drive (PMDD) wind turbine generators. For international market main products are GW136 4.8MW, GW155 4.8MW and GW165 6.0MW.

Medium Speed Permanent Magnet (MSPM) wind turbine generators. For international market main products are GWH170 7.2MW, GW171 6.0MW, GWH175 7.8MW, GWH 6.2 MW and GWH182 8.0MW.

In China a wide range of products are offered with rotors over 190 m.

For Off-shore wind turbines, the company has installed a total of 5,6 GW:

Main product (2024) is GWH252-16GW

In 2024 the company announced a new off-shore model GWH300 - 22 MW. A prototype is expected to be installed in 2025.

The company also provides wind power technology services, investment and sale of wind power projects and technology transfer service.{{citation needed|date=July 2012}}

Goldwind Americas, a wholly owned subsidiary of Goldwind Science & Technology, Co., Ltd., is based in Chicago, Illinois, and currently{{when|date=July 2020}} employs approximately 100 individuals. Goldwind Americas (Goldwind USA, Inc.) has installed approximately 500 MW of PMDD turbines. In 2016 and 2017, Goldwind acquired two Texas projects totaling a combined capacity of 300 MW. Once constructed, the Rattlesnake Wind Project{{Cite news|url=https://www.rechargenews.com/wind/goldwind-us-financing-milestone-as-buffett-and-citi-back-rattlesnake/2-1-75668|title=Goldwind US financing milestone as Buffett and Citi back Rattlesnake |date=1 May 2017|work=Recharge |access-date=27 July 2020}} {{subscription required}} and Heart of Texas Wind Project{{Cite news|url=http://www.rechargenews.com/wind/1268025/goldwind-buys-second-160mw-texas-project|title=Goldwind buys second 160MW Texas project|date=25 May 2017|work=Recharge |access-date=8 August 2017}} {{subscription required}} will be Goldwind's largest U.S. projects to date. In 2017, Goldwind obtained $140m in tax equity financing commitments from a unit of Berkshire Hathaway Energy and Citi for its 160MW Rattlesnake wind project in central Texas – easily the most financing of US origin yet secured by a Chinese turbine OEM in the U.S. market.{{Cite news|url=http://www.rechargenews.com/wind/1250885/goldwind-us-financing-milestone-as-buffett-and-citi-back-rattlesnake|title=Goldwind US financing milestone as Buffett and Citi bac|date=1 May 2017|work=Recharge |access-date=8 August 2017}} {{subscription required}} Goldwind Americas also manages and operates the company's Panamanian team, which oversees the Penonome I and Penonome II wind farms totaling 270 MW, and the Chilean service operations team.

Goldwind Australia is the Australian subsidiary that owns and operates both wind and solar energy farms in Australia.

Products

File:Wind Farm Outside Urumqi.jpg in Xinjiang, China]]

In 1998 Goldwind started the production of Jacobs 43/600 and Jacobs 48/600 turbines.

This German wind turbine with conventional geared drive train is similar to HSW600 and was designed by aerodyn Energiesysteme GmbH.

Later the design has been geared to Jacobs 48/750 and Goldwind by the German engineering consultancy aerodyn.

Nowadays Goldwind turbines are exclusively PMDD machines.

Goldwind's initial use of the PMDD fully converted design came through its partner and eventual subsidiary Vensys Energy, with the VENSYS 62 which has been in operation since 2004.