Barre, Vt.-based Distributed Energy Systems has completed the sale of the assets of its wind turbine division to CB Wind, a newly formed private company focused 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. as 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,’ says 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.’
SOURCE: Northern Power Systems Inc.