San Diego, United States [RenewableEnergyWorld.com] Helix Wind Corp. has established a joint venture with Atoll Financial Group (AFG) to develop products and financing mechanisms to offer individuals, small businesses, commercial users and its distributors’ financing for small wind turbines.
The program will provide financing to individuals, businesses, commercial users of volume orders as well as short-term and trade finance to distributors. For commercial users with aggressive pay-back periods, the financing will also create cash flow. Helix Wind distributors will be able to purchase and carry inventory. The program could greatly minimize turnaround time for customers and help the company’s distributors manage cash flows.
The joint venture will also offer financing to Energy Services Companies (ESCO) and Renewable Energy Services (RESCO) companies. ESCO’s and RESCO’s provide discounted energy services to commercial end users under Power Purchase Agreements or leasing models. Providing financing to ESCO’s and RESCO’s will help deliver increased energy savings to their customers and drive adoption of Helix Wind’s technology.
“We are excited to be the only small wind company to offer individuals and small businesses financing for small wind turbines, which can make purchasing renewable energy much more accessible to consumers,” said Ian Gardner, Helix Wind’s CEO.
Under the terms of the joint venture with AFG, Helix Wind will finance turbines for distributors and end users. The arrangement will also enable Helix Wind to build manufacturing facilities, if needed, in those markets where demand supports the investment as well as finance export sales into countries were Helix Wind does not yet have a local partner.