From the Wires
Wind Energy Company Clean Green Energy LLC Secures $25 Million in Project Financing
By: Marketwired .
Jan. 23, 2013 03:06 PM
BRIGHTON, MI -- (Marketwire) -- 01/23/13 -- Clean Green Energy LLC ("CGE") announces that they have secured $25 million in project financing enabling full funding of Power Purchase Agreement (PPA) installations of their WINDe20® vertical axis wind turbine.
Contracted last year, Shannon Swartz of PierPoint Mortgage acts as credit manager for CGE's wind projects. In their initial round of financial support, Mr. Swartz looks forward to supporting CGE's renewable energy projects.
"After completing our due diligence of Clean Green Energy's WINDe20® technology, we stand firmly in our support," said Swartz. "Following our review, we are proud to announce our assurance to wholly fund all phases of CGE's efforts to manufacture, install, and generate onsite energy directly at the consumer's facilities."
Swartz also noted that additional funds have been earmarked for future rounds of investment.
The construction and operation of onsite WINDe20® PPA installations are one of the primary focuses of CGE's renewable energy company. By providing their customers with clean energy under a Power Purchase Agreement, their customers can benefit from the wind turbine without any capitol costs upfront. With PPAs largely found in the solar industry, CGE has utilized these long-term agreements to provide their customers with discounted and fixed-rate energy pricing for a 20-25 year period.
CGE is currently signing PPAs nationwide, and will be beginning installations of their turbines in 2013.
According to Bryan Zaplitny, President/CEO of CGE, "With guaranteed financing in place, our customers can be assured of our ability to honor each prior commitment and future commitments we make in operating WINDe20® at the customer's location.
About Clean Green Energy LLC:
Clean Green Energy is a renewable energy company located in Brighton, Michigan. CGE is dedicated to bringing clean power to local facilities with their innovative WINDe20® vertical axis wind turbine. The 105 foot tall turbine generates power onsite, and is an ideal solution for the educational, business, and municipal consumers.
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