New York City, United States [RenewableEnergyWorld.com] Good Energies announced today the completion of the sale of its stake in EverPower Wind Holdings, Inc., a North American wind power development company to Terra Firma Capital Partners. Terra Firma intends to invest $350 million to continue to develop the pipeline.
Established in 2002, EverPower is a wind developer that owns an operational 62-megawatt (MW) project in Pennsylvania and is currently developing 800 MW of near-term projects in seven states. Terra Firma will also acquire the company’s pipeline of more than 3,500 megawatts.
EverPower’s business model is to to identify and acquire development opportunities in the Northeastern, Pacific Northwest, and Mid-Atlantic Regions of the United States and in other select locations where EverPower has a strategic reason for pursuing project opportunities.
“Good Energies is pleased to have funded the development and growth of EverPower’s pipeline and helped them build their first operational wind farm,” said Michael Ware, managing director at Good Energies. “Terra Firma is investing in an outstanding management team and platform with a demonstrated track record of success in wind development. We believe EverPower will be one of the leading North American wind developers and wish the management team and Terra Firma future success.”