United Wind has announced that it has closed an US$ 8 million Series B financing led by Statoil Energy Ventures and Forum Equity Partners. This financing enables United Wind to offer its WindLease program to new markets.
The round of financing is led by Statoil Energy Ventures, the renewables-focused corporate venture unit of Statoil ASA and Toronto's Forum Equity Partners. A representative from Forum and Statoil will each be appointed to United Wind's board of directors. The deal is the first for Statoil Energy Ventures since announcing a US$ 200 million fund to finance renewable energy companies and projects. Statoil Energy Ventures will also work with United Wind to help roll out Windlease over time into other international markets where Statoil ASA already has an operating footprint. Forum Equity Partners recently partnered with United Wind in a separate deal, backing its WindLease program with a US$ 200 million sponsor equity commitment.
