Mar 9 2010
A new company, Westerly Wind LLC, was formed by US Renewables Group (USRG) to advance wind energy projects that are stuck up due to lack of finance. Westerly Wind will provide expertise as well as development capital to wind project developers attempting to advance wind energy projects in the current economic climate.
Westerly Wind will focus on wind energy projects in any stage of development and will work closely with all stakeholders including developers and communities to bring the projects to successful completion. Joe Cofelice will be leading Westerly Wind as CEO. Cofelice has much industry experience and has served as Catamount Energy Corporation’s president and as American National Power’s CEO.
Managing director of USRG, Lee Bailey, said several potential wind energy projects do not have adequate funds due to financial crisis. Lee Bailey further said Joe Cofelice and his team has enough capital and expertise to make use of these development opportunities.
In 2009, the U.S. added nearly 10,000 MW of new wind capacity taking the total to more than 35,000 MW representing a 39% increase.
Source: www.usregroup.com