XZERES Corp. Obtains New $6.5 Million Credit Facility
The Importance of Distributed Generation Versus Centralized (Utility-Scale) Generation
Distributed wind -- wind energy that is used wholly or partially at the site where the equipment is deployed and the energy is generated -- is growing worldwide at an annual rate of approximately 35%. It is a fundamentally different business with different economics and market drivers then the utility scale wind projects that grab newspaper headlines, Greco emphasized. He said that "Farmers, ranchers, home owners, small businesses, corporations and governments are discovering that distributed wind can dramatically reduce operating costs and serve as a hedge against future electricity rate hikes."
Unlike utility-scale wind, Greco pointed out that "Distributed wind requires no infrastructure (transmission) upgrades since the power that is generated is used primarily on-site. As a result, several U.S. states now provide long term incentives for small wind that add to its economic appeal, while Feed-In Tariffs, which allow for the sale of excess electricity, are stimulating strong demand in areas like the UK, Europe and Asia."
"While utility-scale wind has garnered the lion's share of attention, we believe the future of wind lies with distributed wind, thanks to its economic benefits, its versatility and its ease of implementation," Greco said. "The price and quality of our products, combined with our global marketing platform, have placed us in a leading position to take advantage of this largely untapped and growing market."Over the past three years, XZERES has invested substantial resources toward making its products world and best in class, establishing a global footprint, and implementing a quality supply-chain, distribution and service platform. According to Greco "XZERES has been on a longer-than-anticipated journey toward success, but with this larger, more adequate funding source in place, we now look forward to demonstrating the Company's capability and leveraging all the years of work and effort to put the Company in position for accelerated growth and performance."
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