Total takes interest in US wind
French oil major’s stake in United Wind to fund expansion
Total Energy Ventures, the venture capital arm of French oil major Total, has acquired a stake in US outfit United Wind.
United Wind leases small wind turbines – 10kW to 100kW – to rural businesses and homes in the USA.
The investment is intended to fund the expansion of United Wind, Total said.
The French company will sit on United Wind’s board of directors as an observer as part of the deal.
Total executive vice president sustainable development & environment Jerome Schmitt said: “This latest investment … allows us to explore the interest in small-scale renewable energy solutions which can be connected to the grid and how these can be financed.”