Champlin Windpower has secured an initial investment of up to $50 million from Good Energies. The financing will fund the growth and development activities of what will now be known as Champlin-GEI Wind Holdings.
Champlin-GEI Wind Holdings will focus on developing 100 MW to 500 MW wind projects in the Western U.S., including existing projects in California, Nevada, Utah and Hawaii. Good Energies' investment will support both the acquisition and development of new projects as well as the advancement of Champlin's existing 4 GW pipeline of projects, which comprises early through late-stage wind developments.
Champlin-GEI Wind Holdings will manage and perform all development activities required to bring its projects from conception to construction, including siting, environmental permitting, securing transmission, contract negotiations and arranging construction and project financing.
The founder of Champlin Windpower, Mike Cutbirth, has more than 16 years of experience in the wind energy business, initially heading up finance at Zond and Enron Wind and subsequently served as president of Clipper Windpower.
SOURCE: Champlin Windpower