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BARRE, Vt., Aug. 18 /PRNewswire/ -- Distributed Energy Systems announced
today that on Friday, August 15, it completed the sale of the assets of its
Vermont-based wind turbine division to CB Wind, a newly formed private company
focused solely on wind energy. In connection with the closing, CB Wind has
changed its corporate name and will continue to operate under the name
Northern Power Systems, Inc. Northern Power Systems, Inc. is a wholly owned
subsidiary of Wind Power Holdings, Inc.
"We are pleased to have a knowledgeable and financially strong owner to
recapitalize Northern Power and participate in the accelerated interest in
renewable energy," said Bud Cherry, CEO of the new Northern Power. "Northern
has already achieved significant sales growth of its Northwind 100 wind
turbine product line in recent months, and our new ownership and its
investment will allow us to continue to deliver leading-edge wind turbines and
excellent service to new and existing customers."
"With its permanent magnet direct drive turbine design and advanced power
electronics capabilities, Northern offers state-of-the-art product technology,
reliability and an outstanding customer value proposition," said Richard
Hokin, Managing Director of Century America LLC, a lead investor in the new
Northern Power Systems, Inc. "The new Northern Power Systems team is very
pleased to be able to enter the wind generation market with an excellent
portfolio of products, an industry leading team, and a significant growth
opportunity."
In recent months, Northern Power has seen a growth in sales and
installations of its 100kW wind turbine, the Northwind 100. Five Northwind
100s have been installed in remote villages of Alaska in the past 6 weeks. At
least 7 more are planned for installation in grid-connected and remote
locations across North America before the end of October.
About Northern Power
Northern Power has been a leader in wind power technology for over 30
years, and continues to set the standard for advanced technology and high
reliability in wind power. The company's Northwind 100 turbine is sized
specifically for villages, schools/universities, commercial farms,
municipalities, business campuses, and other similar distributed power
applications. The Northwind 100 utilizes gearless, direct drive architecture
and a permanent magnet generator to provide best-in-class energy capture and
extremely low maintenance. It is currently available with 6 month lead times.
Northern is also developing a 2.2 MW turbine using the same advanced PMDD
drive train technology which will deliver increased energy capture, a lower
O&M profile and improved grid power quality. The new Northern Power Systems is
a wholly owned subsidiary of Wind Power Holdings, Inc.
SOURCE Northern Power Systems, Inc.
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