Nordic Windpower Raises $38 Million Equity Funding Led By Khosla Ventures

Nordic Windpower has raised $38 million in a new financing round led by Khosla Ventures. Joining Khosla Ventures in the Series C equity financing are New Enterprise Associates, Novus Energy Partners and Impax Asset Management, an existing investor.

Other participants include I2BF Management and Pulsar Energy Capital. The company has previously closed three funding rounds since 2007 from investors including Goldman Sachs International, Impax Asset Management and NBT AS.

Nordic Windpower will use the funds to scale up its business activities involving the sale, manufacturing and service of its 1 MW N1000 wind turbines.

Last month, the company announced the shipment of turbines to Uruguay's largest wind power developer. The remaining turbines on order are destined for projects in the U.S., including for schools, a municipal utility, a U.S. Army base and wind farms, with deliveries commencing this month.

SOURCE: Nordic Windpower


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