Northern Power Systems Announces Lease Facility for Distributed Generation Wind Financing

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Northern Power Systems Corp., a next-generation renewable energy technology company, recently announced that its flagship distributed generation wind platform is available to businesses, farms, and other property owners with a compelling financing solution.

Northern Power Systems is now offering a lease program to allow users to take advantage of wind energy with 100-percent financing and no increase of payments during the lease period. According to the U.S. Energy Information Agency, U.S. electricity prices are forecasted to increase every year by at least 2.7 percent in the next 20 to 30 years, surpassing the expected rate of inflation.

The NPS 100 wind platform is a state-of-the-art product in its third generation of technology that is optimized for efficiency and proven to be reliable with a fleet of nearly 500 turbines deployed around the globe. It is targeted to medium-level power users such as a wind garden feeding 15-20 homes, a farm with substantial agricultural machinery, or a small factory or business that is keen to lock in flat electricity rates, save substantial money, and eventually own the asset.

“Over a period of 20 years, the Northern Power solution will save our customers significant amounts on their electricity bill with no upfront equipment costs and a path to full ownership within seven years,” said Diego Tebaldi, vice president of global business development at Northern Power Systems. “The Northern Power offering comes as a turnkey solution including installation, maintenance, and servicing to assure maximum value and peace-of-mind. This agreement with LFC gives yet another option for people to go green.”

LFC Capital, Inc., with more than $1.5 billion of equipment leasing experience, has created the LFC Clean Energy Ownership Program for commercial and industrial companies seeking greater overall value from clean energy systems than the limited cost savings offered by power purchase agreements. The program is especially appealing to companies such as LLCs that cannot directly benefit from a federal tax credit.

“We’re very pleased that Northern Power Systems has selected the LFC program as an effective way to make wind systems affordable for their business customers,” said Stanley S. Fishbein, managing director of LFC Capital, Inc.

The LFC program uses a traditional operating lease and innovative purchase options after six to seven years to provide companies with a predictable low cost of ownership while satisfying tax rules. Companies obtain an attractive return on investment by keeping all energy savings over the long life of these wind systems. The program is available in all 50 states. 

— Source: Northern Power Systems

For more information,
go to www.northernpower.com.