Goldwind cuts cost for wind deal with Sinoma

China-based Goldwind Science and Technology said it cut the value of its wind-blade deal with Sinoma Science and Technology Wind from RMB 650 million ($94 million) to RMB 590 million ($86 million).

Goldwind cited the current raw materials prices and current global economic conditions.

It's the second move by Goldwind to take advantage of the economic situation in recent weeks.

On April 29, Goldwind renegotiated a deal with Zhuzhou CSR Electric Motor from RMB 240 million to RMB 220 million for a  1.5 MW direct-drive permanent magnet wind generator by changing the delivery date to November or December 2009.

A second contract was lowered from RMB 960 million to RMB 900 million for a new delivery date of March to November of this year.