Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

United Wind Gets $25 Million Turbine Financing for Leases

Sept. 19 (Bloomberg) -- United Wind Inc., a developer of small-scale wind energy systems for homes and businesses, arranged as much as $25 million in funding from GSG Energy Finance for turbines it plans to lease to users in rural areas.

The tax equity financing will let farms, wineries and bed and breakfasts install about 150 wind turbines by the end of next year with little to no upfront costs, United Wind Chief Executive Officer Russell Tencer said today in a phone interview.

Most of the wind turbines will be installed in rural parts of New York, Oregon, Massachusetts and Maryland, where power is relatively expensive and permitting easy, Tencer said.

United Wind is based in San Diego and GSG Energy Finance is based in Brooklyn, New York.

U.S. consumers and businesses installed 175 megawatts of wind turbines last year to generate their own electricity and reduce their dependence on utilities, according to the U.S. Energy Department. Most of the turbines installed at customer sites were 100 kilowatts or less.

To contact the reporter on this story: Christopher Martin in New York at cmartin11@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.