Total SA’s venture capital arm acquired a stake in United Wind Inc., a Brooklyn-based company that leases small wind turbines in rural areas.
Total Energy Ventures will finance the startup’s expansion into new states including Colorado, Kansas and Minnesota, it said in a statement. Transaction details weren’t disclosed.
“This latest investment strengthens TEV’s participation in the distribution of renewable energy,” said Jerome Schmitt, executive vice president of sustainable development and environment at Total. “It allows us to explore the interest in small-scale renewable energy solutions which can be connected to the grid and how these can be financed.”
The Paris-based energy giant has been diversifying into clean energy in recent months. It also invested in Africa-focused rooftop solar installer Off Grid Electric and PowerHive, a Kenya-based company that develops miniature power grids that run on photovoltaic panels. Total also spent $1 billion on battery maker Saft Groupe SA in May.
United Wind installs, operates and maintains turbines with capacities of between 10 and 100 kilowatts. The electricity generated is used by clients or sold onto the power grid. In an attempt to increase stability in its clean energy industry, the U.S. government extended its renewables incentive program of production tax credits by five years in December.