As wind farm developments have soared in the U.S., turbine makers are finding they can barely keep up. Northern Power Systems said its parent company, Wind Power Holdings, has completed a $37 million round of financing to boost its turbine manufacturing business, led by RockPort Capital Partners and Allen & Company.
Barre, Vt.-based Northern Power says it plans to use the funding to not only scale up manufacturing of its small-scale 100 kilowatt Northwind 100 turbines but also accelerate development of a much larger 2.2 megawatt turbine which it plans to sell to industrial wind farm developers. Currently, the company says its Northwind turbine is available within a six-month lead time, a pretty quick turnaround considering that giants like GE are reporting a $12
mbillion backlog on wind turbine orders.
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