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NTR plc (NTR), a leading international developer and operator
in renewable energy and sustainable waste management, has
announced the investment of $150m in Wind Capital Group (WCG)
- a leading wind energy developer in the Midwest Region of
the United States.
NTR has also signed an agreement for the supply of 150MW
of GE wind turbines on behalf of WCG for delivery in 2010
to accelerate the build out of WCG’s portfolio of development
projects.
This latest move by NTR comes just days after the organisation
agreed to invest $100 million (€63 million) for a controlling
interest in Stirling Energy Systems, Inc. (SES) - a Phoenix,
Arizona-based developer of utility-scale solar-powered electricity
generation plants (Click
Here).
Based in St Louis, Missouri, WCG is one of the fastest growing
wind energy developers in North America. NTR’s investment
will take the company from being a regional developer to a
major national player in wind energy development.
WCG’s strategy places a great emphasis on partnering with
local farming communities. As a result of energy prices continuing
to increase and supportive US government policy on renewable
energy, wind has become the fastest growing source of renewable
electricity in North America.
Commenting on the investment, Jim Barry, CEO of NTR plc said
- “In re-entering the wind energy business in the US, NTR
is delighted to partner with Wind Capital Group with their
unique business model - focusing on local partnerships in
rural communities. Their rapid growth and early success is
a testament to the strength of their business model. NTR is
excited to be involved at this early stage in taking the business
forward to the next level.”
Tom Carnahan, President of Wind Capital Group said - “With
their expertise in global markets, NTR is a perfect partner
for us. The investment they are making will help Wind Capital
Group expand beyond the Midwest and become a major player
in wind energy development across North America.”
WCG is currently developing wind farm projects in eight states
across the central United States with a development pipeline
of over 2,000MW, of which the first will be coming on-stream
by early 2010.
On-shore wind is the most cost-efficient of all renewable
energy sources and is the most scalable, given its resource
availability and proven technology.
Credit Suisse served as exclusive financial advisor to Wind
Capital Group in the transaction.
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