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XZERES Launches Leasing Sub to Provide Wind Turbine Financing

February 28, 2014, 07:00 AM
Filed Under: Energy

XZERES Corp., a global clean energy solutions company, has launched the XZERES PowerLease™ financing program for its wind turbine customers.

As a new 'no money down' financing solution, XZERES PowerLease allows businesses, municipalities and landowners to capitalize on the same financing programs that have long existed in the solar industry. The program has the potential to transform the small wind market in the U.S. by eliminating a customer's need for upfront capital.

"XZERES PowerLease enables wind energy to be more accessible to our American customers," said Steven Shum, XZERES' CFO. "Modeled after successful solar financing programs, the XZERES lease option will make our turbines a leader in cost effective, wind energy solutions. We believe our new lease program fills the financing gaps prevalent in this industry and will succeed in accelerating small wind energy adoption for businesses, communities and residences."

The lease program will eliminate the upfront investment needed to purchase a turbine, allowing customers to reap the full benefits of wind power by extending a wind lease option with a 20-year payment term. By eliminating the single biggest hurdle to wind turbine ownership, customers will enjoy lower energy costs and a smaller carbon footprint without the capital outlay. This financing program will initially be offered in select U.S. markets.

XZERES has established a wholly owned subsidiary, XZERES Leasing Corp. (XLC), to manage the financing program and will provide the company with a 20 year recurring cash flow.

The XZERES lease financing program is supported by various financing partners, including Renewable Power Resources, LLC (RPR). RPR was instrumental in assisting XZERES in the acquisition of the award-winning Skystream line of small wind turbines, which complemented the company's existing 10kW turbine. With more than 9,000 units installed worldwide, Skystream is the world's best-selling small wind turbine.

XZERES Corp. is a global clean energy technology company that provides an array of quality power solutions for a new energy landscape. The company designs and manufactures small wind power systems as well as power management and power efficiency solutions for commercial, light industrial and residential markets. XZERES' products deliver significant energy cost savings while reducing its customer's carbon footprint. Headquartered in Wilsonville, Oregon, XZERES' international distribution network supports the deployment of its products in 110 countries and on all seven continents.

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