Greentech Lead America: Wind energy company Clean Green Energy (CGE) has secured $25 million in project financing enabling full funding of Power Purchase Agreement (PPA) installations of their WINDe20 vertical axis wind turbine.
Contracted last year, Shannon Swartz of PierPoint Mortgage acts as credit manager for CGE’s wind projects. In their initial round of financial support, Swartz looks forward to supporting CGE’s renewable energy projects.
Swartz also noted that additional funds have been earmarked for future rounds of investment.
“After completing our due diligence of Clean Green Energy’s WINDe20 technology, we stand firmly in our support,” said Swartz. “Following our review, we are proud to announce our assurance to wholly fund all phases of CGE’s efforts to manufacture, install, and generate onsite energy directly at the consumer’s facilities.”
The construction and operation of onsite WINDe20 PPA installations are one of the primary focuses of CGE’s renewable energy company. By providing their customers with clean energy under a Power Purchase Agreement, their customers can benefit from the wind turbine without any capitol costs upfront. With PPAs largely found in the solar industry, CGE has utilized these long-term agreements to provide their customers with discounted and fixed-rate energy pricing for a 20-25 year period.
CGE is currently signing PPAs nationwide, and will be beginning installations of their turbines in 2013.
“With guaranteed financing in place, our customers can be assured of our ability to honor each prior commitment and future commitments we make in operating WINDe20 at the customer’s location,” said Bryan Zaplitny, president and CEO of CGE.
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