May 29, 2019

Marathon Capital Announces the Sale of Goldwind’s Musselshell Wind Projects to Potentia Renewables

Marathon Capital, LLC (“Marathon”) is pleased to announce the sale of Goldwind International Holdings (HK) Ltd. (“Goldwind”) Musselshell wind projects (“Musselshell” or the “Projects”) to Potentia Renewables (“Potentia”), a fully integrated developer, owner, and operator of renewable energy assets headquartered in Toronto, Canada. Goldwind has announced the sale together with its parent company, Xinjiang Goldwind Science & Technology Co., Ltd. and its local subsidiary, Goldwind Americas. Marathon acted as Goldwind’s exclusive sell-side financial advisor.

Musselshell consists of two 10MW wind projects that commenced operation in December 2012, located in Wheatland County, Montana. Goldwind supplied 14 Goldwind 87/1.5MW permanent magnet direct-drive turbines and performed O&M and asset management services for the projects. Musselshell has been operating at industry-leading availability for more than six years since commercial operation date (COD).
 
Marathon provided marketing outreach, valuation, structuring, due diligence, and negotiation support throughout the highly competitive sale process.
 
“The sale of Goldwind’s Musselshell Wind Projects to Potentia Renewables marks another important milestone for the company in North America. We are proud to be collaborating with Potentia Renewables, a leading renewable energy developer, as this underscores our shared desire for growth throughout the Americas and value on industry-leading turbine performance. It was a pleasure to work with Marathon Capital and we appreciate their efficient, attention to detail approach as Goldwind’s financial advisor,” said Saad Qais, Chief Financial Officer at Goldwind Americas.
 
“We have been a firm believer in Goldwind’s wind turbine technology, its global operations and its highly professional management team. We are glad that Potentia would benefit from the strengths of this project and Goldwind’s ecosystem. It was our great pleasure to work on this important transaction.” said Ari Pribadi, Managing Director at Marathon Capital.
 
About Marathon Capital
Marathon Capital is a leading financial advisory and investment banking firm focused on providing financial advice in the areas of M&A, capital raising of debt and equity, project finance, tax equity, financial restructuring, recapitalization, bankruptcy and workout situations in the energy sector. Marathon Capital is a four-time recipient of the "Best Renewable Asset M&A Adviser" Award, "Renewable Generating Project Finance Deal of the Year" Award (2016), first-time recipient of the "Best Asset M&A Adviser" (2017) and first-time recipient of the "M&A Adviser of the Year" (2019) in Power Finance & Risk's Annual Power Finance Deals and Firms Awards.
 
About Goldwind
Goldwind is a global wind power solution provider operating on six continents and in 24 countries. With over 32,000 turbines installed globally, Goldwind has become a world leader supplying turbines to more than 50 GW of wind farms globally. Xinjiang Goldwind Science & Technology Co., Ltd. is listed on both the Shenzhen Stock Exchange (since 2007, Stock Code: 002202) and the Hong Kong Stock Exchange (since 2010, Stock Code: 2208), and it is rated investment-grade by Moody’s (Baa3) and S&P (BBB-). To learn more, visit www.goldwindglobal.com.
 
About Goldwind Americas
Goldwind Americas, headquartered in Chicago, is a wholly-owned subsidiary of Xinjiang Goldwind Science & Technology Co., Ltd. Goldwind Americas offers a full suite of innovative renewable energy solutions, including equipment sales, service, and capital. Goldwind Americas is a tradename of Goldwind USA, Inc. To learn more, visit www.goldwindamericas.com.