Helix Wind Corp. Establishes Joint Venture with Atoll Financial Group to Offer Financing of Small Wind Turbines to Individuals and Small Business
Date Posted: August 26, 2009
San Diego, CA--Helix Wind Corp. a global renewable energy company, announced Aug. 26 that it has established a joint venture with Atoll Financial Group (AFG), Washington, DC, to develop products and financing mechanisms to offer individuals, small businesses, commercial users and its distributors’ financing of its small wind turbines.
Helix Wind CEO Ian Gardner said, “We are excited to be the only small wind company to offer individuals and small businesses financing for small wind turbines, which can make purchasing renewable energy much more accessible to consumers.”
Under the terms of the joint venture, Helix Wind will finance turbines for distributors and end users.
The program will provide financing to individuals, businesses, commercial users of volume orders as well as short-term and trade finance to distributors.
The benefit for individuals and small businesses is a smaller cash outlay and the ability to match expenditure with their electric bill savings.
For commercial users with aggressive pay-back periods, the financing will also create cash flow.
Importantly, Helix Wind distributors will be able to purchase and carry inventory.
This will greatly minimize turnaround time for customers and help the company's distributors manage cash flows.
The arrangement will also enable Helix Wind to build manufacturing facilities, if needed, in those markets where demand supports the investment as well as finance export sales into countries were Helix Wind does not yet have a local partner.
Finally, the Joint Venture will offer financing to Energy Services Companies (ESCO) and Renewable Energy Services (RESCO) companies. ESCO’s and RESCO’s provide discounted energy services to commercial end users under Power Purchase Agreements or leasing models.
Providing needed financing to ESCO’s and RESCO’s will help deliver increased energy savings to their customers and drive adoption of Helix Wind’s technology.
“This joint venture with Atoll Financial Group provides Helix Wind with the operational flexibility we need to grow.
"Being able to offer financing to our customers and distributors is a significant accomplishment,” Gardner said.
For more information, call Ian Gardner, CEO, Helix Wind, Corp. at 619.501.3932.