A recently launched Windfrastructure Partner Program lets large power users purchase renewable energy in a financially neutral manner. The program, devised by National Wind, Minneapolis, provides its partners with an economic interest in a new community wind project in exchange for buying electricity from the new project. Participating in the program is income-statement neutral because the additional cost of buying renewable energy is offset by the economic interest the participant receives in the wind farm.
Elements in the program are that it promotes sustainability and creates a new source of renewable energy. “Receipt of economic interest in a new wind farm makes the program an attractive alternative to purchasing RECs or purchasing green power through a utility,” says Robert Martorano, Managing Director of Deutsche Bank’s Asset Finance & Leasing Group. In addition, the program is traceable and brandable.
“Companies want to become more sustainable,” says Leon Steinberg, CEO of National Wind. “But given the economic climate, many corporations are unwilling to recognize the additional expense for renewable energy. Windfrastructure will let companies achieve and perhaps surpass their greenhouse gas emission reduction goals in a manner that will not affect their profit and loss statement.”
Different types of large power users may become Windfrastructure Partners at varying levels of participation.
Windfrastructure Overview Sheet: http://www.nationalwind.com/files/WindF%20overview%20sheet-final.pdf
Filed Under: News
