- Category: Wind
11 Jun 2013
- Published on Tuesday, 11 June 2013 08:38
- Hits (1274)
Small wind turbine company Xzeres Corp. has announced a distribution agreement with British wind project developer Prowind (UK) Ltd.
The two will be working on building a distributed wind investment portfolio using Xzeres 10 kilowatt wind turbines.
Prowind’s small wind division is targeting the deployment of 200 turbines before the end of this year and 1,000 turbines for 2014.
Under a British Feed-in-tariff program, a portfolio such as Xzeres and Prowind are planning, can set up a wind project and benefit from a 20 year recurring revenue stream from the tariff program. Meanwhile, the owner of the land the project is set up on will be able to use the clean energy produced on-site.
“This portfolio model provides the unique advantage of creating a mutually beneficial arrangement with local land owners and at the same time yield an attractive investment return for the portfolio investors,” said Xzeres’ chief executive officer, Frank Greco.
Xzeres Corp. designs, develops, manufactures and markets grid-connected and off-grid wind turbine systems with generation capacities of 2.5 kW and 100 kW. Their products are developed for distributed power projects, where in power generated is used primarily on site.
Xzeres’ has a strong global presence in the U.S. and U.K. markets and is in the process of developing their business in the markets of Vietnam, Japan, the Caribbean and other parts of continental Europe.
Just last April, the company received its largest single funding to-date, with a $6.5 million credit facility from investor group Renewable Power Resources, LLC. – EcoSeed Staff