Goldwind Backs Turkish Turbine Project With $20 Million in Subsidiary Guarantees

MT Newswires Live06-05

Goldwind Science & Technology (SHE:002202, HKG:2208) has agreed to provide up to $20 million in financial guarantees for its overseas subsidiaries to fund a wind turbine installation project in Turkey, according to a Friday disclosure on the Shenzhen Stock Exchange.

Goldwind International Holdings (Hong Kong) will act as the offshore equipment supplier, while Goldwind Turkey Enerji Anonim Şirketi will handle onshore supply and installation services for the developer, Ege Antalya Enerji.

The Chinese wind energy company will allocate $18 million of the total guarantee to Goldwind International and $2 million to Goldwind Turkey.

The company's Hong Kong shares fell 2% during the morning trade Friday.

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