Company aligns with leading distributed-scale turbine manufacturer to increase customer savings.
United Wind recently announced a partnership with Bergey WindPower. Under terms of the agreement, United Wind will be the exclusive provider of third-party financing options to customers seeking to lower their electricity costs.
As part of the agreement, United Wind will lease Bergey WindPower’s BWC Excel 10 primarily to residential and farm customers. The BWC Excel 10 is the best-selling turbine of its size class in the world and is known for its high reliability, low maintenance, and low wind speed performance.
“One of the major barriers for small property owners and farmers in adopting wind energy has been the initial capital equipment expenses,” said United Wind President Tal Mamo, who in December discussed the lease program during Rochester Institute of Technology’s Wind Power Workshop. “By using new financing models, small property owners can now take advantage of wind turbines without the up-front equipment expenses, to leverage considerable energy cost savings.”
United Wind’s lease program offers significant savings made possible by the first institutional capital investment tax equity commitment of $25 million from GSG Energy Finance. By targeting New York, Oregon, Massachusetts and Maryland states, United Wind can now effectively monetize the tax incentives created by these projects and realize significant savings for its customers.
United Wind plans to partner with CEC Energy and other experienced partners to handle the planning, construction, installation, permitting and ongoing maintenance of each turbine—passing significant savings to property owners with suitable properties.
Additionally, by partnering with companies like Bergey—those familiar with the local requirements for distributed-scale wind turbines—United Wind anticipates helping in the creation of local job opportunities.
“United Wind’s WindLease program will unlock a huge segment of our market that we’ve been missing,” said Mike Bergey, president of Bergey WindPower. “This is an exciting partnership for us and I believe a bright new day for the American small wind turbine industry.”
The company’s unique wind energy financing model for reducing upfront costs was highlighted at a recent U.S. Department of Energy (DOE) 2012 Market Report on Wind Technologies in Distributed Applications report.
Underscoring the value of the WindLease program, U.S. Department of Energy highlighted United Wind’s energy financing programs within the organization’s 2012 Market Report on Wind Technologies in Distributed Applications report. The detailed report hails the company’s financing model for reducing upfront costs while underscoring the value of supporting the development of distributed wind projects in the rural and farm markets.
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