Statoil Energy Ventures (SEV) has invested $3m in US wind turbine leasing outfit United Wind.
The Norwegian company said today that the deal marked the first outlay in its plans to spend $200m in renewables.
United Wind offers a leasing option to customers that want to install a wind turbine on their property to reduce energy bills.
SEV manaing director Gareth Burns said: “Statoil is committed to wind energy, as demonstrated by our strong position in offshore wind. Today’s investment in United Wind secures early entry in the company driving the growth of the distributed wind market in the United States.”
He added: “This transaction fits well with two of our key investment purposes: Testing and positioning for future potential growth legs, while also exploring high impact business models.
“We are excited to partner with United Wind and look forward to driving further growth through financing and access to technology and market experience.”
The transaction will give SEV a seat on United Wind’s board.
Image: sxc
