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Barre, Vt.-based wind turbine development company Wind Power Holdings Inc. has raised a $45 million round of funding, the company disclosed in a U.S. Securities and Exchange Commission filing Wednesday.
This is the second known venture financing for the parent company of Northern Power Systems Inc., which manufactures and sells gearbox-less wind turbines for medium-size wind developments in communities and on commercial property. The last fundraising round came in September of 2008, when RockPort Capital Partners of Boston and Allen & Company LLC among others invested some $56 million in the company to, in part, acquire the assets of Northern Power and grow Wind Power Holdings.
Company officials declined to comment on the disclosure, and it is not immediately clear who or what entity is backing the latest round.
Last month, Northern Power announced it was setting up a beachhead in Zurich to sell into the European wind market. The company is also developing a 2.2 megawatt turbine design for utility-scale wind projects.
The company was founded in Warren, Vt., in 1974 as North Wind Power Company, developing wind turbines and off-grid hybrid power systems. The operation was acquired by Wind Power Holdings LLC in 2008 and Northern Power received $50 million in investment from Boston-based venture capital firm RockPort Capital Partners and New York investment bank Allen & Co.
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