Recently, the Yanbu Wind Power Project in Saudi Arabia (hereinafter referred to as the “Yanbu Project”), supplied by Windey Energy Technology Group, successfully completed financing process, achieving a non-recourse project financing. This marks the third financed project in which Windey has participated in and successfully closed financing for in Saudi Arabia, following the successful financing of two other projects before the end of 2024. The financing was led by the Japan Bank for International Cooperation, with participation from several renowned international financial institutions such as Standard Chartered Bank, laying a solid foundation for the project’s transition into the construction phase.
The successful financing of the Yanbu Project fully showcases the strong recognition by international financial institutions of its asset quality, technological reliability, and long-term stable earning potential. It also attests to the comprehensive competitiveness and bankability of Chinese wind power equipment under stringent international standards. As a key indicator of international competitiveness for wind power equipment, bankability has always been at the core of Windey’s international product strategy. The company aligns its technical designs, reliability validations, and full life-cycle operations and maintenance with the risk control standards of mainstream international financial institutions, continuously enhancing the credibility and influence of its products and projects in the global capital market.
The WD200-7700IW wind turbine system, utilized in the Yanbu Project, is an internationally customized model developed by Windey specifically to address the challenging environmental conditions in the Middle East, including high temperatures, a high level of salt fog, and severe dust storms. This model has demonstrated its stable and reliable operation across multiple wind power projects in Saudi Arabia, contributing to the establishment of a bankability benchmark for wind power projects in the Middle East alongside other projects implemented by the company in the region. It fully meets the stringent requirements for equipment and overall risk management of the project associated with non-recourse project financing.
Leveraging the practical experience gained from the implementation of multiple projects in Saudi Arabia, Windey has gradually established a mature and comprehensive international project execution and delivery system in the Middle East and North Africa. This system encompasses key aspects such as project planning, cross-border logistics organization, onsite construction management, grid connection commissioning, and operation and maintenance services, fostering a systematic and professional capability. This effectively adapts to the regional market and environmental characteristics, providing robust support for the high-quality construction of the project and the successful completion of financing.
Non-recourse project financing is a globally recognized high-standard financing model in the infrastructure sector, demanding strict criteria for project technology maturity, operational reliability, and revenue stability. The successful acquisition of such financing for the Yanbu Project signifies that Windey possesses the comprehensive strength to offer highly reliable wind power equipment and system solutions to the global market, and has earned high trust from international professional financial capital. This achievement not only marks a milestone for the project but also serves as an important example of the international recognition of Chinese wind power technology, standards, and business models in high-end markets. It injects significant momentum into the ongoing deepening of global cooperation and participation in the international energy transition.
