US-based small wind firm United Wind has received $200 million in funding from a Canadian investor.
According to the Reuters financial news service, the investment from Toronto-based Forum Equity Partners represents the largest capital injection to date in the small wind sector.
Reuters called the funding “a vote of confidence not only in the Brooklyn, New York-based startup, but in the nascent market for wind energy that is both produced and used on-site.”
The funds will support around 1000 on-site wind projects in the northeast and midwest of the US, United Wind said.
Since 2013, the company has completed 26 projects that installed small and medium-sized wind turbines (pictured) on farms, rural households and industrial facilities. The company offers a leasing model similar to popular solar lease programmes.