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Wind turbine firm Northern Power raises USD37m
Fri Sep 26 2008, 18:27 PM UTC+01:00
Vermont wind turbine maker Northern Power is receiving USD37m from RockPort Capital Partners and Allen & Co, bringing its total equity funding to USD56m. The money was raised via the firm’s parent company Wind Power Holdings. Northern Power is using the funds to develop a 2.2MW turbine suitable for utility-scale wind farms.
Deal Details
- Status completed
- Amount US$37m
- Investor Rockport Capital Partners
Northern Power makes a 100kW turbine called the Northwind 100, which is larger than residential turbines – typically less than 10kW in size – but too small for commercial wind farms. The firm markets the Northwind 100 as a source of auxiliary power for farms, universities and business parks.
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