In connection with the closing, CB Wind has changed its corporate name and will continue to operate under the Northern Power Systems name, as a wholly owned subsidiary of Wind Power Holdings.
In the recent past, Northern Power has seen growth in sales and installations of its 100kW wind turbine, the Northwind 100. Five Northwind 100s have been installed in remote villages of Alaska, with at least seven more planned for installation in grid-connected and remote locations across North America before the end of October 2008.
Bud Cherry, CEO of the reorganized Northern Power, said: We are pleased to have a knowledgeable and financially strong owner to recapitalize Northern Power and participate in the accelerated interest in renewable energy. Northern has already achieved significant sales growth of its Northwind 100 wind turbine product line in recent months, and our new ownership and its investment will allow us to continue to deliver leading-edge wind turbines and excellent service to new and existing customers.
