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United Wind closes $200m financing for distributed wind projects development in US

CTBR Staff Writer Published 07 January 2016

United Wind has closed $200m investment from Forum Equity Partners for the development of over 1,000 distributed wind projects across the US Northeast and Midwest.

The funding will expand United Wind's WindLease program, which enables both residential and commercial property owners to lease distributed-scale wind turbines of less than or equal to 100KW in rated capacity.

The WindLease program allows homeowners, farms, small businesses, agricultural operations, factories and other customers to reduce energy costs by harvesting on-site wind energy through a fixed rate, 20-year maintenance-free lease without any initial out-of-pocket costs required from the customer.

United Wind co-founder and CEO Russell Tencer said: "Distributed wind is often the optimal renewable energy choice for rural property owners seeking to lower their energy costs.

"With this pivotal investment by the visionary team at Forum Equity Partners, United Wind is now well positioned to provide low-cost wind energy through its WindLease offering to thousands of customers across the country."

United Wind's WindLease program also received $13.5m in financing from US Bank and New York Green Bank in October last year, according to media sources.

Figures released by the Distributed Wind Energy Association (DWEA) show that close to 23.7 million homes and buildings will be suitable for distributed wind by 2030, representing a potential for 1,100GW of generating capacity.

The non-windfarm wind-generated energy capacity is expected to increase to 1,400 GW.