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.
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