Minneapolis, Minnesota [RenewableEnergyAccess.com] National Wind, LLC announced that it has received a private equity investment from Harmony Equity Income Fund, a South Dakota fund managed by McGowan Capital Group. Details of the agreement were not disclosed but National Wind has the confirmed the investment is more than $1 million and will be used to expand National Wind’s community wind development efforts in South Dakota.
In the past six months, National Wind has announced two large community wind projects, a 300-megawatt (MW) development in Minnesota, called High Country Energy, LLC, and a 280-MW development in North Dakota, called M-Power, LLC. The company currently has 2000 MW of wind power in development.“This investment allows us to devote a significant amount of our resources to promote community-owned wind projects in South Dakota,” said Leon Steinberg, CEO of National Wind. “We expect to launch several sizable South Dakota wind projects in the near future. Our projects allow the community to retain most of the economic benefit, with a higher probability of overall success than traditional developer-owned projects.”