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Total acquires interest in wind startup


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Total acquires interest in wind startup

Total SAhas acquired an interest in United Wind, a startup that leases small wind turbinesto residents and rural businesses in the U.S.

The investment was made by Total's venture capital arm TotalEnergy Ventures who joins other investors, including Forum Equity Partners and StatOil, in participating in United Wind's series B financinground.

United Wind has now raised over $220 million to expand its windleasing program to install on-site wind energy through a fixed rate, 20-year maintenance-freelease without upfront costs in new markets.

Total Energy Ventures will sit on the United Wind board as anobserver, according to a July 12 news release. "This latest investment strengthens[Total Energy Ventures'] participation in the distribution of renewable energy.It allows us to explore the interest in small-scale renewable energy solutions whichcan be connected to the grid and how these can be financed," Total ExecutiveVice President for Sustainable Development and Environment, Jérôme Schmitt, saidin a statement.