in News Departments > FYI
print the content item

Minneapolis-based National Wind, a developer of large-scale community-owned wind projects, has announced that it has received a significant private-equity investment from Harmony Equity Income Fund, a South Dakota fund managed by McGowan Capital Group.

"We chose to invest in National Wind because it is a high-growth company with a unique business model that can capitalize on South Dakota's wind potential," says Gene McGowan, president of Harmony Equity Income Fund and McGowan Capital Group. Investors get an equity interest in National Wind.

According to National Wind, the funds will be used to expand National Wind's community wind development efforts in South Dakota. Specifically, the company expects to add development staff, wind assessment engineers and field representatives. Approximately 1,000 MW of new projects will commence development in South Dakota within the next six months, according to National Wind.

"This investment allows us to devote a significant amount of our resources to promote community-owned wind projects in South Dakota," says Leon Steinberg, CEO of National Wind. "We expect to launch several sizable South Dakota wind projects in the near future. Our projects allow the community to retain most of the economic benefit, with a higher probability of overall success than traditional developer-owned projects."

Sen. John Thune, R-S.D., recognizes South Dakota's opportunities to develop wind power and is also introducing legislation that would facilitate the transference of wind energy generated in South Dakota to high-demand regions in urban areas.

"At a time when America is dangerously reliant on foreign sources of energy, the promise of clean, renewable wind energy is something I will continue to promote," says Thune. "States like South Dakota have the wind resources to meet a considerable share of our nation's electrical demand, but until now, have lacked the necessary infrastructure."


Trachte Inc._id1770
Latest Top Stories

Setting The Record Straight: How Many Birds Do Wind Turbines Really Kill?

Several peer-reviewed studies are more or less in agreement with avian mortality rates caused by wind turbines. However, one study, which is wildly off from the others, is most often cited in the media. Why?


Six Takeaways From The IRS' Start Of Construction Guidance: What You Need To Know

The IRS recently issued guidance to wind developers to further spell out what "start of construction" means. Will you be covered?


Eagle Take Permits For Wind Farms - Will They Fly?

Now that the U.S. Fish and Wildlife Service has issued the first permit allowing the legal take of eagles, can wind developers expect more certainty in the agency's application process?


Despite 2013 Challenges, U.S. Wind Power Reaches All-Time Low Price

In a new report, the U.S. Department of Energy details the highs and lows of the country's wind industry last year, and the agency maintains that the U.S. sector remains strong.


Mexico On Pace To Set New Renewables Investment Record

A new report says the country has spent $1.3 billion on clean energy in the first half of 2014 and could end up seeing a record year. Furthermore, wind power is slated for significant growth in the region.

Renewable NRG_id1934
Canwea_id1984
Tower Conference_id1965