National Wind, LLC, a leader in large-scale community-owned wind power projects is getting a boost in its capital from South Dakota-based Harmony Equity Income Fund.
This National Wind press release says the unspecified amount will be sunk back in to community wind projects in South Dakota:
“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.”
“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. “National Wind’s valuable business model creates a win-win situation, allowing community wind farm profits to stay in our state, helping both the environment and the local economy.”
It’s estimated that South Dakota has the potential to generate half of the nation’s electrical needs with most of that capacity remaining untapped at this point.
National Wind has two community-based large wind projects in the works announced in just the last six months: a 300-megawatt development in Minnesota, called High Country Energy, LLC, and a 280-megawatt development in North Dakota, called M-Power, LLC.