Goldwind guarantees subsidiary’s $360m Saudi project obligations

Xinjiang Goldwind Science & Technology (Goldwind) has announced guarantees totaling up to $359,932,806 for its wholly-owned subsidiary, Goldwind Arabia Company Limited (Goldwind Saudi). These guarantees cover Goldwind Saudi's performance and warranty obligations under two "Performance and Quality Assurance Agreements" with China Energy Engineering Group International Construction Co., Ltd. (Saudi Arabia Branch) for the Shaqra and Starah projects in Saudi Arabia.

The total guarantee amount represents 6.63% of Goldwind's net assets as of 2024. The guarantee specifically allocates $121,423,690 for the Shaqra project and $238,509,116 for the Starah project, commencing from the project start dates stipulated in the agreements until Goldwind Saudi’s responsibilities are fulfilled. Goldwind Saudi's asset-liability ratio exceeds 70%, a factor highlighted for investor attention.

As of October 16, 2025, following this transaction, Goldwind's total external guarantees amount to 9.21% of its latest audited net assets. Guarantees to entities outside the consolidated scope stand at 0.74%. Goldwind Saudi was established on June 23, 2022, with a registered capital of SAR 100,000.