Wind turbine manufacturer Xinjiang Goldwind Science & Technology has entered into an agreement with Industrial and Commercial Bank of China (ICBC) for a $1.57 billion credit facility. The funding, to be used for developing its domestic business, will be spread over the next two to three years.
The credit facility comprises loans supporting fixed assets, working capital, mergers and acquisitions, trade finance, guarantees, project finance and export credit. The bank will also be extending financial services such as cash management, international business services, investment banking and financial leasing. Goldwind is the world’s biggest permanent magnet direct drive wind turbine manufacturer.
Click here for the release from Goldwind.