Vermont Business Magazine Northern Power Systems Corp(TSX:NPS), a next generation renewable energy technology company known for its stand-alone wind power systems, today 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 US. Energy Information Agency (www.eia.gov), US electricity prices are forecasted to increase every year by at least 2.7% in the next 20-30 years, surpassing the expected rate of inflation.
Turbine installation in Hawaii
The NPS 100 wind platform is a state-of-the-art product in its third generation of technology, 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, like 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 twenty years, the Northern Power solution will save our customers significant amounts on their electricity bill," commented Diego Tebaldi, VP of Global Business Development at Northern Power Systems, adding, "with no upfront equipment costs and a path to full ownershipwithin 7 years. 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, LFC Capital, Inc.
The LFC program uses a traditional operating lease and innovative purchase options after six and 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.
About Northern Power Systems
Northern Power Systems designs, manufactures, and sells wind turbines and power technology products, and provides engineering development services and technology licenses for energy applications, into the global marketplace from its US headquarters and European offices.
- Northern Power Systems has almost 40 years' experience in technologies and products generating renewable energy.
- Northern Power Systems currently manufactures the NPS™ 60 and NPS™ 100 turbines. With over 8.5 million run time hours across its global fleet, Northern Power wind turbines provide customers with clean, cost effective, reliable renewable energy.
- Patented next generation permanent magnet direct drive (PMDD) technology uses fewer moving parts, delivers higher energy capture, and provides increased reliability due to reduced maintenance and downtime.
- Northern Power Systems' FlexPhase™ power converter platform uses patented converter architecture and advanced controls technology for advanced grid support and generation applications.
- Northern Power Systems offers comprehensive in‐house development services, including systems level engineering, advanced drivetrains, power electronics, PM machine design, and remote monitoring systems to the energy industry.
- Some of the world's largest manufacturers license the company's next generation technology and IP for their utility and distributed wind products and markets.
BARRE, VT--(Marketwired -January 13, 2016) -Northern Power Systems Corp.To learn more about Northern Power Systems, please visitwww.northernpower.com.